15 Stern Street Condominium

Key facts from 15 Stern Street Condominium's documents

Community type

Condominium

Legal name

15 Stern Street Condominium

Developer / declarant

Dovid Fromowitz

Governing law

Article 9-B of the Real Property Law of the State of New York (FIRST: Submission of Property)

Assessments & dues

Board determines budget at least annually; total common charges prorated among Units according to common interest; payable monthly in advance (ARTICLE VI. Section 2: Assessments)

Special assessments

Allowed, levied and paid in same manner as regular assessments (ARTICLE VI. Section 2: 'Special assessme)

Collections & liens

Common charges constitute a lien on the Unit prior to all other liens except taxes and first mortgages; may be foreclosed like a mortgage; Board may purchase Unit at foreclosure (Declaration TWELFTH; ARTICLE VI. Section)

Reserves & fees

Not explicitly created but budget includes 'reserves' (ARTICLE VI. Section 2: 'operational item)

Use restrictions

Occupancy of the Units shall be restricted to Residential Occupancy (Declaration SEVENTEENTH (i); By-laws ART)

Voting & meetings

Each Unit Owner shall have one vote for each percentage of common interest set forth in EXHIBIT B (EIGHTH: Common Interest)

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