1 Ostereh Boulevard Condominium

Key facts from 1 Ostereh Boulevard Condominium's documents

Community type

Condominium (Declaration FIRST: Submission of Propert)

Legal name

1 OSTEREH BOULEVARD CONDOMINIUM

Developer / declarant

Yonah Silberman (Declaration opening paragraph; Signature)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration FIRST; By-laws Article I, Se)

Assessments & dues

Board determines total required amount and assesses against Units according to respective common interest percentages (By-laws Article VI, Section 2)

Special assessments

Board may levy special assessments in same manner as regular assessments; while Sponsor controls, special assessments may require approval of majority of Unit Owners if over threshold (By-laws Article VI, Section 2; Declarati)

Collections & liens

Unpaid common charges constitute a lien prior to all other except tax liens and first mortgages. Foreclosure available after 90 days' notice, like a mortgage. (Declaration TWELFTH; By-laws Article VI,)

Reserves & fees

Up to $15 per month (By-laws Article VI, Section 2)

Architectural approval

Exterior alterations, structures on common elements, and interior alterations impairing structural soundness require written consent of Board of Managers (Declaration SEVENTEENTH(b); By-laws Arti)

Maintenance

Board (common expense) (By-laws Article III, Section 6)

Insurance

Fire insurance with extended coverage, water damage, vandalism, malicious mischief; public liability insurance with single limit of $1,000,000 until first meeting; fidelity bonds for officers/employees handling funds (By-laws Article VII, Sections 1-2; Artic)

Use restrictions

Occupancy restricted to residential occupancy per applicable zoning (Declaration SEVENTEENTH(i); By-laws Arti)

Voting & meetings

Each Unit Owner has one vote for each percentage of common interest set forth in Exhibit 'B' (Declaration EIGHTH; By-laws Article II, )

Amendments

Declaration: 80% of Unit Owners in number and common interest plus 51% of first mortgage holders (by votes) for withdrawal; 66-2/3% of Unit Owners in number for other amendments, with mortgagee approval if material adverse. By-laws: 66-2/3% (Declaration TENTH; By-laws Article X)

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