14 16 Marman Place Condominium

Key facts from 14 16 Marman Place Condominium's documents

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

Community type

Condominium

Legal name

14-16 MARMAN PLACE CONDOMINIUM

Developer / declarant

53 Twin Ave LLC (Page 3 (Declaration) '53 Twin Ave LLC, w)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Page 1 (Declaration); Section 1 (Definit)

Special assessments

The Board may levy Special Assessments in accordance with Section 6.1 of the By-Laws. Also used for casualty repair deficiencies (Section 5.5(C)). (Definition (33) in Exhibit C; Section 5.)

Collections & liens

The Board may place liens on Units for unpaid Common Charges (Section 8.3). Foreclosure rights not detailed but implied by lien enforcement. (Section 8.3 (Notice of Unpaid Common Cha)

Reserves & fees

The Board may establish a reserve fund for working capital, replacements, etc. (Section 2.4(iv) refers to 'budget' including reserves; also Section 2.4(vi) borrowing for replacements). No specific funding requirement stated. (Section 2.4(iv) and (vi); Definition (7))

Leasing & rentals

Leasing of units is permitted but subject to restrictions (e.g., amendment provisions for restriction on leasing units). The Board may acquire and lease units (Section 2.4(xiv)). No detailed lease terms in this document. (Section 2.4(xiv) and Section 19(a)(ix) ()

Architectural approval

Alterations, additions, or improvements to a unit require approval of the Board if they change layout or affect other units or common elements (Section 5.2). Also any structural work requires Board approval. (Section 5.2 (ii) 'make alterations, addi)

Home business

A Unit may be partially used as a professional office by the owner only. (Section 5.7(A) 'Any Unit may be partially used as a professional office by the owner of such unit only.') (Section 5.7(A))

Maintenance

Not explicitly stated, but roof is part of Building and likely a Common Element. The Board is responsible for Common Elements (Section 5.1(A)(ii)). (Section 5.1(A)(ii))

Insurance

Board may determine deductible amounts (Section 5.4(C) final sentence). No specific amount. (Section 5.4(C) 'Any insurance policies m)

Use restrictions

Each Unit may be used in accordance with local law, zoning, and Certificate of Occupancy. Not more than one family may occupy a Unit. Also, a Unit may be partially used as a professional office by the owner only. (Section 9 (Use of the Units) and Section)

Voting & meetings

For Unit Owners meetings: majority of all Unit Owners (Section 4.5). For Board meetings: majority of Board Members (Section 2.15). (Sections 4.5 and 2.15)

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