21 Hoyt Street Condominium

Key facts from 21 Hoyt Street Condominium's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration title)

Legal name

21 Hoyt Street Condominium

Developer / declarant

Israel Markowitz

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 1 and Declaration title)

Assessments & dues

Board of Managers fixes budget at least annually, prorated according to common interest percentages. (By-Laws Article VI Section 2)

Special assessments

Board may vote a special assessment if required to meet additional necessary expenses. (By-Laws Article III Section 1 item 1)

Collections & liens

Unpaid common charges constitute a lien on the Unit prior to all other liens except tax and first mortgage liens; may be foreclosed when past due. (Declaration Article 12)

Reserves & fees

Board shall maintain any accounts it deems necessary to carry out its purpose. (By-Laws Article VI Section 7)

Leasing & rentals

Not explicitly prohibited; Article XI titled 'Selling, Mortgaging and Leasing of Units' implies leasing is permitted, but no restrictions stated. (By-Laws Article XI heading)

Parking & vehicles

Commercial license plate vehicles may not be parked in the Community for a period in excess of 24 hours. (By-Laws Article VIII Section 8(e))

Architectural approval

Alterations to exterior of Unit or common elements require written consent of Board; alterations impairing structural soundness require consent. (Declaration Article 17(b) and By-Laws Ar)

Use restrictions

Occupancy of the Units shall be restricted to Residential Occupancy in accordance with applicable zoning regulations. (Declaration Article 17(i))

Voting & meetings

Each Unit Owner shall have one vote for each percentage of common interest set forth in EXHIBIT B; also one vote for each first Mortgage owner for certain amendments. (Declaration Article 8 and By-Laws Articl)

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