5 Stephen Place Condominium

Key facts from 5 Stephen Place Condominium's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

5 STEPHEN PLACE CONDOMINIUM

Units / lots

4 (Units 101, 102, 201, 202 as per Exhibit B) (Exhibit B (page 13-14))

Developer / declarant

MCR REAL ESTATE LLC, 11 West Maple Avenue, Monsey, New York 10952 (Preamble)

Governing law

Article 9-B of the Real Property Law of the State of New York (the Condominium Act) (Section 2 and Definition (10))

Assessments & dues

Common Charges and Special Assessments determined by Board (By-Laws Section 2.4(v)), allocated pro-rata according to Common Interest (By-Laws Section 6.1). (By-Laws Sections 2.4(v) and 6.1)

Collections & liens

Board may lien a unit for unpaid Common Charges and foreclose (By-Laws Article 6, Section 6.4). (By-Laws Section 6.4)

Leasing & rentals

Units may be leased; accessory apartment may be occupied by lessee; lessee must be permitted (Section 9). (Section 9 and By-Laws Article 7 (Mortgag)

Use restrictions

Units shall be used for residential purposes only; not more than one family at a time, except the accessory apartment which is part of every unit and may be occupied only by the Owner or his permitted lessee or immediate family (Section 9). (Section 9)

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