13 North Cole Condominium

Key facts from 13 North Cole Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1, title)

Legal name

13 NORTH COLE CONDOMINIUM

Developer / declarant

36 COLLINS AV

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1, line after title)

Assessments & dues

Condominium Board prepares annual budget of anticipated Common Expenses and determines Common Charges to be paid by Unit Owners in proportion to Common Interests; Special Assessments also levied by Board (By-Laws Section 2.4(iv)(v), page 24)

Special assessments

Allowed; defined as charges allocated and assessed by Condominium Board pro-rata in accordance with Common Interests (Definitions (32), page 17; By-Laws Secti)

Reserves & fees

Board must maintain a general operating and reserve fund for replacements; sponsor consent required for creation or replacement of reserve fund during control period (By-Laws Section 2.4(iv) (page 24), Secti)

Leasing & rentals

Leasing is allowed but subject to Right of First Refusal; unit owner must give written notice to Board of intent to lease; Board has option to lease the unit (By-Laws Article 7 (Right of First Refusa)

Architectural approval

Yes: No structural alteration, addition, improvement or change in or to a Unit without prior written approval of Condominium Board; also Board approval needed for alterations affecting other Units or Common Elements (By-Laws Section 5.2 (page 37-38) and Dec)

Home business

Professional office by the owner of the unit only, on a partial basis (By-Laws Section 5.7(A), page 42)

Use restrictions

Units used only as specified by local law and zoning; at most one family may occupy a Unit; additionally, Unit may be partially used as professional office by owner (Declaration Article 9 (page 6) and By-La)

Voting & meetings

Each Unit Owner: 1 vote per Unit in all matters; in Board elections, each Unit Owner elects one Board Member. Sponsor or designee retains same right for as long as they own Unsold Units. (By-Laws Section 4.8 and 4.9, pages 35-36)

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