1916 Avenue X Condominium Association Inc.

Key facts from 1916 Avenue X Condominium Association Inc.'s documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration FIRST: 'submits the property)

Legal name

1916 Avenue X Condominium Association Inc.

Units / lots

28 residential units, 13 parking units, 1 Community Facility (total 42 units) (Declaration THIRD (a): '28 residential u)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration FIRST; By-Laws Article I Sec)

Assessments & dues

Not fixed; Board determines budget annually. (By-Laws Article VI Section 2)

Special assessments

Permitted; levied and paid same as regular assessments. (By-Laws Article VI Section 2)

Collections & liens

Unpaid Common Charges constitute a lien on the unit, prior to all other liens except taxes and first mortgages. Board may foreclose like a mortgage. Board may purchase unit at foreclosure sale. (Declaration Article TWELFTH; By-Laws Art)

Reserves & fees

Board may create reserve, but while Sponsor has consent rights (>=5% common interest), cannot assess for creation of reserve without Sponsor's consent. (By-Laws Article III Section 5(c)(ii))

Leasing & rentals

Addressed in By-Laws Article XI (Selling, Mortgaging and Leasing Units) but full text not provided in excerpt. Leasing is permitted subject to those provisions. (TOC of By-Laws, Article XI, Section 1: ')

Architectural approval

Written consent of Board required for alterations to Common Elements, exterior of unit, and interior alterations impairing structural soundness. Request by certified mail; Board must answer within 60 days; failure to respond constitutes no (Declaration Article SEVENTEENTH(b) and ()

Insurance

Board shall obtain fire insurance with extended coverage, water damage, vandalism, malicious mischief, insuring Building including all Units and fixtures initially installed by Sponsor, in amount equal to full replacement value. Also casual (By-Laws Article VII Section 1)

Use restrictions

Each Unit shall be used as a residence only, except Sponsor may use for sales office, models, and signs while owns any unit. (Declaration Article EIGHTEENTH)

Voting & meetings

Each Unit Owner has one vote per Unit owned (Declaration Article EIGHTH; By-Laws Arti)

Amendments

Declaration amendments require 80% of Unit Owners in number and common interest (and first mortgagees if affecting parcels, shares, or voting). By-Laws amendments: not fully provided, but Article X in TOC. (Declaration Article TENTH(a)-(c))

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