44 Euclid Avenue Condominium Association Inc.

Key facts from 44 Euclid Avenue Condominium Association Inc.'s documents

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

Community type

Condominium

Legal name

44 Euclid Avenue Condominium Association Inc.

Units / lots

12 residential units (Declaration Article THIRD(a): '"Units" s)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration FIRST; page 10)

Assessments & dues

set annually by Board based on budget; not specified (By-Laws Article VI Section 2: 'The Board)

Special assessments

allowed, levied and paid same as regular assessments; requires majority vote of unit owners if exceeds $10,000 while sponsor controls board (By-Laws Article III Section 5(a)(12) and)

Collections & liens

unpaid common charges constitute a lien on the unit, prior except for taxes and first mortgage; foreclosable; Board may purchase unit at foreclosure sale (Declaration Article TWELFTH; By-Laws Art)

Reserves & fees

Board may create reserve, but while sponsor owns 5%+ common interest, sponsor consent required for assessment to create or replenish reserve (By-Laws Article III Section 5(c)(ii): 'a)

Architectural approval

Yes, for alterations to exterior, common elements, and structural interior changes; written consent of Board required (Declaration Article SEVENTEENTH(b) and ()

Signs & flags

Only sponsor may erect and maintain signs at the Building for promoting unit sales (Declaration Article EIGHTEENTH(1): 'whil)

Insurance

Fire insurance with extended coverage, water damage, vandalism and malicious mischief; insuring building, all units, and bathroom/kitchen fixtures initially installed by sponsor; amount equal to full replacement value; includes mortgagee cl (By-Laws Article VII Section 1)

Use restrictions

Yes, each unit shall be used as a residence only (Declaration Article EIGHTEENTH(1): 'Each)

Voting & meetings

one vote per unit (Declaration Article EIGHTH: 'Each Unit O)

Amendments

By 66-2/3% vote of unit owners; but changes to unit's parcel, common interest, common charges, or voting rights require unanimous consent of unit owners and first mortgagees; amendments must be recorded (Declaration Article TENTH (a) and (b))

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