559 W Central Avenue Condominium

Key facts from 559 W Central Avenue Condominium's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration of Condominium)

Legal name

559 W. CENTRAL AVENUE CONDOMINIUM

Developer / declarant

Iszrael Guttman, Yocheved Guttman, Yocheved Glauber (Page 3 (declarant paragraph))

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 1, Page 3)

Assessments & dues

Not fixed; Board determines budget and levies monthly assessments pro-rata according to common interest (By-laws Article III Section 5 item 1, Pa)

Special assessments

Board may vote a special assessment in excess of monthly amount if required to meet additional necessary expenses; assessed pro-rata (By-laws Article III Section 5 item 1, Pa)

Collections & liens

Unpaid common charges constitute a lien on the Unit, prior to all liens except tax liens and first mortgage liens; foreclosure in manner of mortgage; Board may purchase unit at foreclosure (Article 12, Pages 6-7; By-laws Article V)

Reserves & fees

Board may maintain accounts as it deems necessary but no specific reserve requirement (By-laws Article VI Section 7, Page 21)

Pets

Not explicitly prohibited but subject to nuisance restrictions (pets mentioned in context of conduct) (By-laws Article VIII Section 3, Page 22)

Leasing & rentals

Yes, but subject to right of first refusal for Board; no sale or lease unless all unpaid common charges paid (By-laws Article XII Section 1, Page 23-2)

Architectural approval

Written consent of Board required for alterations to exterior or common elements, or interior alterations affecting structural soundness (Article 17(b), Page 7; By-laws Article V)

Maintenance

Common element; maintained by Board (Article 5, Page 4 (outside walls and roo)

Insurance

Fire insurance on buildings (minimum $600,000 initially); public liability insurance (minimum $1,000,000 single limit initially) (By-laws Article VII Sections 1 and 2, Pa)

Use restrictions

All Units shall be used for residential purposes only (By-laws Article VIII Section 2, Page 22)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest; each unit appoints a Manager (Article 8, Page 5; By-laws Article II Se)

Amendments

Declaration amendment: 66-2/3% of Unit Owners in number plus approval of 51% of first mortgagees if material adverse; By-laws amendment: 66-2/3% of Unit Owners in number and common interest, recorded amendment to Declaration (Article 10, Pages 6-7; By-laws Article X)

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