69 S Madison Avenue Condominium

Key facts from 69 S Madison Avenue Condominium's documents

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

Community type

Condominium (Article 1 (Page 3))

Legal name

69 S. MADISON AVENUE CONDOMINIUM

Developer / declarant

69 S MADISON NY LLC

Governing law

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

Assessments & dues

Board of Managers determines and levies monthly assessments (common charges) to cover cost of common interest (Article III Section 5(a) (Page 14))

Collections & liens

Unpaid common charges constitute a lien on the Unit, prior except for taxes and first mortgage; may be foreclosed; purchaser at foreclosure not liable for prior charges (Article 13 (Pages 6-7))

Reserves & fees

Interest at the highest legal rate from due date to actual payment (Article VI Section 2 (Page 18))

Pets

Allowed, but must not be injurious to reputation of Condominium (Bylaws Article VIII Section 3 (Page 20))

Leasing & rentals

Yes, but all unpaid common charges must be paid before conveyance; Board has right of first refusal on resale (Article XI Section 1 (Page 21-22))

Parking & vehicles

Commercial license plate vehicles may not be parked in the Condominium for a period (Bylaws Article VIII Section 8(e) (Page 2)

Architectural approval

Written consent of Board required for alterations to exterior, common elements, or interior changes impairing structural soundness (Article 17(b) (Page 8); Bylaws Article V)

Home business

Not allowed; Units shall be used only for residential purposes and other than as a home office (Bylaws Article VIII Section 2 (Page 20))

Maintenance

Board (common element) (Article III Section 5(q) (Page 15))

Insurance

Fire insurance with extended coverage, etc.; minimum $600,000 after first Unit Owners meeting (Article VII Section 1 (Page 19))

Use restrictions

Occupancy restricted to Residential Occupancy; Units used only for residential purposes (Article 17(i) (Page 8); Bylaws Article V)

Voting & meetings

Each Unit has one vote for each percentage of common interest (50% each) (Article 10 (Page 6); Exhibit B (Page 11))

Amendments

Declaration: 80% of Unit Owners (based on one vote per first mortgage owner); Bylaws: 75% of Unit Owners at meeting with full statement of proposed amendment (Article 12 (Page 6); Bylaws Article IX ()

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