40 42 Ridge Avenue Condominium

Key facts from 40 42 Ridge Avenue Condominium's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

40-42 RIDGE AVENUE CONDOMINIUM

Units / lots

4 (inferred from common interest percentages: 26.81%, 26.81%, 22.56%, 23.82%?) (EXHIBIT B)

Developer / declarant

34 Ridge LLC, by Isaac Rosenberger, Managing Member (Declaration first page)

Governing law

Article 9-B of the Real Property Law of the State of New York (Preamble, By-laws Section 1)

Assessments & dues

Board determines total annual requirements and prorates according to common interest percentages (By-laws Article VI Section 2)

Special assessments

Yes, levied and paid same manner as regular assessments (By-laws Article VI Section 2)

Collections & liens

Unpaid common charges constitute a lien prior to all except taxes and first mortgage; foreclosure after 90 days past due (Declaration Article 12; By-laws Article )

Reserves & fees

Budget includes reserves for repairs, betterments, etc. (By-laws Article VI Section 2 (reserves m)

Leasing & rentals

Yes, but all unpaid common charges must be paid before leasing; Board has right of first refusal on sale (not lease) (By-laws Article XI Section 1)

Architectural approval

Yes, Board written consent for exterior alterations, common element structures, and interior structural changes (By-laws Article VIII Section 7; Declarat)

Maintenance

Common element (belongs to all Unit Owners) (Declaration Article 5 (outside walls and)

Use restrictions

Occupancy restricted to residential purposes (Declaration Article 17(i); By-laws Artic)

Voting & meetings

Each Unit Owner entitled to one vote per percentage of common interest; each Unit appoints a Manager who votes (Declaration Article 8; By-laws Article I)

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