46 North Cole Condominium

Key facts from 46 North Cole Condominium's documents

Reflects the 2026 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 9-B submission, Section 2)

Legal name

46 NORTH COLE CONDOMINIUM

Developer / declarant

COLE & COLLAXS LLC

Governing law

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

Assessments & dues

Condominium Board determines Common Charges and Special Assessments based on annual budget, allocated in proportion to Common Interests. (By-laws Section 6.1, Declaration Section)

Special assessments

Board may levy Special Assessments for deficiencies, capital improvements, etc. Requires approval of Unit Owners owning 75% Common Interest for certain capital improvements unless required by law or insurance. (By-laws Section 2.5(B)(iii), Section 5.5)

Collections & liens

Condominium can enforce by legal means; no specific assessment lien mentioned in visible text. (By-laws Section 2.4(xviii) - enforce by )

Reserves & fees

Mentioned in context of Sponsor consent; contingency fund may be added to budget. (By-laws Section 2.5(A)(ii))

Leasing & rentals

Leasing is allowed; restriction on leasing is a material change requiring mortgagee consent. (Declaration Article 19 item ix, and Arti)

Architectural approval

Alterations, additions, or improvements to a Unit require approval of the Board. (Declaration Section 10, By-laws Section )

Maintenance

Unit Owner responsible for interior painting, decorating, maintenance, and replacements of Unit. Board responsible for Common Elements as Common Expense. (By-laws Section 4.11)

Insurance

Board may determine deductible amounts; reviewed annually. (By-laws Section 5.4(C))

Use restrictions

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

Voting & meetings

Each Unit Owner (including Sponsor) casts one vote per Unit owned. After Sponsor control, each Unit Owner casts one vote for one Board Member. (By-laws Section 4.8(A) and 4.9(A))

Amendments

Amendment requires vote of all Unit Owners (unanimous) or written approval. Certain amendments require mortgagee consent; if no response within 60 days, consent implied. (Declaration 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.