49 North Cole Condominium

Key facts from 49 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

Legal name

49 NORTH COLE CONDOMINIUM

Developer / declarant

Eli Reichman and Bracha Reichman

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration recites 'pursuant to Article)

Assessments & dues

Board of Managers determines cash requirements (Common Charges) from time to time; final and conclusive (Article III Section 7 and Article VI Sec)

Special assessments

Common Expenses may include amounts for working capital, general operating reserve, reserve for replacements, and to make up any deficiency in prior year (Article VI Section 1: 'Common Expenses m)

Collections & liens

Board may foreclose lien for unpaid Common Charges under Section 339-z of NY Real Property Law (Article VI Sections 5 and 6)

Reserves & fees

General operating reserve and reserve fund for replacements are included in Common Expenses (Article VI Section 1: 'for a general ope)

Maintenance

Unit Owner responsible for Unit and Limited Common Elements. Board responsible for Common Elements as Common Expense, except if caused by owner negligence. (Article VI Section 8(a)-(c))

Insurance

Board shall obtain hazard insurance with extended coverage (Article VI Section 2: 'The Board of Mana)

Use restrictions

Units may be used for residential purposes and for any other purpose permitted under the Certificate of Occupancy (Article 9: 'Units may be used for reside)

Voting & meetings

Each Unit Owner is entitled to one vote per Unit (Article II Section 5: 'each Unit Owner..)

Amendments

Requires vote of Unit Owners representing 100% of Common Interests, cast in person or by proxy at a meeting, or written approval by 100% (Article 14: 'amended... by vote of Unit )

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