68 Woodruff Avenue Condominium Corp.

Key facts from 68 Woodruff Avenue Condominium Corp.'s documents

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

Community type

Condominium (Declaration heading; Article 5 (Name: TH)

Units / lots

10 (8 residential + 2 parking) (Exhibit B (Units 1A,1B,2A,2B,3A,3B,4A,4B)

Developer / declarant

68 Woodruff LLC, 5014 16TH Avenue, Suite 416, Brooklyn, NY 11204 (Declaration preamble, Declarant signatur)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration Article 2(a), Exhibit C Defi)

Assessments & dues

Board determines Common Charges pro-rata based on Common Interests; budget prepared annually (By-laws Section 2.4(A)(iv),(v); Section )

Special assessments

Permitted; Board may levy Special Assessments pro-rata based on Common Interests (By-laws Section 6.1(C); Exhibit C Defini)

Collections & liens

Condominium may have lien for unpaid common charges (By-laws Section 6.4); foreclosure remedies available (By-laws Section 6.4)

Reserves & fees

Board may maintain reserve fund for replacements and working capital; Sponsor consent required for assessments to create or add to reserve during control period (By-laws Section 2.4(A)(iv) and 2.7)

Leasing & rentals

Leasing is permitted; subject to a right of first refusal (By-laws Section 7.2); unit owners may lease (By-laws Article 7 (Selling and Leasing o)

Use restrictions

Units may be used in accordance with local law and Certificate of Occupancy; not more than one family per unit (Declaration Article 9(a))

Voting & meetings

Each Unit Owner casts one vote per unit owned; cumulative voting allowed; Sponsor votes during control period (By-laws Section 2.7)

Amendments

Declaration may be amended by 66-2/3% vote of Unit Owners; adopted by Board as attorney-in-fact or by affected Unit Owners; must be recorded; no amendment limiting mortgagee rights without consent (Declaration Article 18)

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