640 Broadway Owners LLC

Key facts from 640 Broadway Owners LLC's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Article 1: Declaration of Intent submits)

Legal name

THE 640 BROADWAY CONDOMINIUM

Units / lots

2 (Block 522, Lots 1101 and 1102, f/k/a Lot 14) (Cover page; Recital A)

Developer / declarant

640 BROADWAY OWNERS LLC, a Delaware limited liability company, with an office at c/o Acadia Realty, 1311 Mamaroneck Avenue, White Plains, New York 10605 (Preamble, Declaration p.5)

Governing law

Article 9-B of the Real Property Law of the State of New York (the "Act") (Recital B, Declaration p.5)

Assessments & dues

Board of Managers determines cash requirements for Common Expenses and fixes Common Charges proportionally based on Common Interest and other factors such as special or exclusive use (Declaration 16.1(a)) (Declaration Section 16.1(a); Bylaws Sect)

Special assessments

Board may levy Special Assessments as deemed necessary (Declaration 16.1(c)) (Declaration Section 16.1(c))

Collections & liens

Unpaid Charges constitute a lien on the Unit, prior except tax liens and first mortgage; may be foreclosed like a mortgage (Declaration 16.2) (Declaration Section 16.2)

Reserves & fees

Board may establish reserves for capital improvements, repairs, alterations; include operating reserve and replacement reserve (Bylaws 3.7(b), 3.8) (Bylaws Sections 3.7(b) and 3.8)

Signs & flags

Commercial Unit Owner has right to erect signage and lighting on exterior facade abutting its unit, subject to conditions (Declaration 8.12) (Declaration Section 8.12)

Maintenance

Each Unit Owner responsible for painting, decorating, maintenance, repairs, alterations within the Unit (Declaration 4.5). Board responsible for maintenance, repairs, improvements to Common Elements (Declaration 6.6). Ordinary maintenance o (Declaration Sections 4.5, 6.6, 7.3)

Insurance

Board shall insure Common Elements and Units (Bylaws 3.9(h)); detailed coverage in Article 6 of Bylaws (not fully provided) (Bylaws Section 3.9(h); Table of Contents)

Use restrictions

Residential Unit intended for residential purposes including joint live-work quarters for artists (Declaration 5.1); Commercial Unit for non-residential purposes (Declaration 5.2) (Declaration Sections 5.1 and 5.2)

Voting & meetings

Each Unit Owner entitled to one vote for each .01% of Common Interest; voting viva voce unless ballot demanded (Bylaws 2.5) (Bylaws Section 2.5)

Amendments

Declaration may be amended upon affirmative vote of both Unit Owners; certain provisions require consent of affected owners or Declarant (Declaration 15.1). Bylaws amendment procedure in Article 12 (table of contents). (Declaration Section 15.1; Bylaws Table o)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.