14 North Cole Condominium

Key facts from 14 North Cole Condominium's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1, name '14 NORTH COLE CONDOMINIUM')

Legal name

14 NORTH COLE CONDOMINIUM

Developer / declarant

ACE BUILDERS#N'Y LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Section 2 and passim)

Assessments & dues

Not set in document; determined by Board as Common Charges. (Section 2.4(v))

Special assessments

Permitted; defined in Definition (32); Board may levy for deficiencies in insurance trust funds (Section 5.5(C)). (Definition (32); Section 5.5(C))

Leasing & rentals

Leasing of Units is subject to a Right of First Refusal (Article 7), but not prohibited. (Section 7.2)

Architectural approval

Alterations, additions, improvements or changes to Unit layout require Board approval. (Section 5.2, Section 9)

Maintenance

Unit Owner responsible for painting, decorating, maintenance, and replacements in/on Unit (interior walls, ceilings, floors, fixtures, windows, doors, plumbing, etc.). Board responsible for Common Elements. If work necessitated by condition (Section 5.1(A))

Insurance

Board may determine deductible amounts. (Section 5.4(C))

Use restrictions

Units may be occupied only by the owner, officers/directors/stockholders/employees of corporate owner, partners/employees of partnership, fiduciaries/beneficiaries, or family members and guests. (Section 5.6(B))

Voting & meetings

Each Unit Owner casts one vote per Unit. In Board elections, each Unit Owner elects one Board Member. Sponsor votes as long as owns Unsold Units. (Section 4.8, 4.9)

Amendments

Requires vote of all Unit Owners; written amendment signed by all Unit Owners is alternative. Certain material amendments require consent of eligible mortgage holders representing at least 51% of votes of mortgaged units. Deemed consent if (Article 19)

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