10 E Funston Avenue Condominium

Key facts from 10 E Funston Avenue Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

10 E FUNSTON AVENUE CONDOMINIUM

Developer / declarant

3 JOHN ST. SP NY LLC (Declaration, Introduction, page 3)

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1, first page of Declaration)

Assessments & dues

Board prepares and adopts budget, determines Common Charges (By-Laws Section 2.4(v), page 25)

Special assessments

Board may levy Special Assessments for common expenses, capital improvements, reserve fund, etc. (By-Laws Section 2.4(viii) and definition)

Reserves & fees

Board may create reserve funds; increasing reserves beyond 10% of budgeted operating expenses for next 12 months requires approval of at least 75% of Common Interest (By-Laws Section 2.5(B)(iv), page 28)

Leasing & rentals

Leasing permitted subject to right of first refusal; Board has power of attorney to acquire and lease units (Declaration Section 16, page 8; By-Laws )

Home business

Unit may be partially used as a professional office by the owner only (By-Laws Section 5.7(A), page 44)

Use restrictions

Unit used as private residence, not more than one family; may be partially used as professional office by owner only (Declaration Section 9, page 6; By-Laws S)

Voting & meetings

Each unit owner one vote per unit owned; each unit owner elects one board member (By-Laws Sections 4.8(A) and 4.9(A), page)

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