36 Collins Ave Condominium

Key facts from 36 Collins Ave Condominium's documents

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

Community type

condominium (Section 1)

Legal name

36 COLLINS AVE CONDOMINIUM

Developer / declarant

36 COLLINS iq

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1, Section 2)

Assessments & dues

Condominium Board determines budget and sets Common Charges and Special Assessments (By-laws Section 2.4(v))

Special assessments

Yes, defined in Definitions and By-laws; can be levied for deficiencies in trust funds after casualty, etc. (Definitions (33), By-laws Sections 2.4(v)

Leasing & rentals

Leasing allowed; subject to right of first refusal (By-laws Article 7); restrictions on leasing may be amended with mortgagee consent (Section 19(b)(ix)) (By-laws Article 7; Declaration Section 1)

Insurance

Board may determine deductible amounts (By-laws Section 5.4(C) (implicitly))

Use restrictions

Each Unit may be used in accordance with local law and zoning; not more than one family may occupy a Unit (Section 9)

Voting & meetings

Each Unit Owner casts one vote per percentage of interest owned; cumulative voting for Board elections; Sponsor or designee votes for Unsold Units (By-laws Section 4.8, 4.9)

Amendments

Amendment requires vote of at least 67% in number and percentage of Common Interest of all Unit Owners; certain amendments require mortgagee consent; board may amend with 51% of votes of unit estates subject to mortgages held by eligible ho (Section 19(a), (b))

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