4 Collins Avenue Condominium

Key facts from 4 Collins Avenue Condominium's documents

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

Community type

Condominium (Title page, page 1)

Legal name

4 COLLINS AVENUE CONDO

Developer / declarant

27 WEST SPRING LLC

Governing law

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

Assessments & dues

Condominium Board determines the amount of Common Charges and Special Assessments. (Declaration Section 2.4(v), page 25)

Special assessments

Allowed; required when trust funds for casualty/condemnation work are insufficient (Section 5.5(C)); also generally allowed with limitations. (Declaration Section 2.4(v) (page 25) and)

Collections & liens

Board may impose liens for unpaid Common Charges and enforce collection; detailed in By-Laws Article 6 and Section 8.3. (By-Laws Article 6, Section 6.1 et seq. ()

Reserves & fees

Referred to as reserve, contingency, or surplus fund; Sponsor has limitation on creating or adding to reserves without consent. (Declaration Section 2.5(A)(ii), page 27)

Leasing & rentals

Leasing allowed subject to right of first refusal; transient occupants prohibited. (By-Laws Article 5, Sections 5.13-5.16 (r)

Home business

A Unit may be partially used as a professional office by the owner of such Unit only. (By-Laws Section 5.6, page 42)

Use restrictions

Each Unit may be used in accordance with local law and zoning, and not more than one family may occupy a Unit. (Declaration Section 9, page 6)

Voting & meetings

Each Unit Owner casts one (1) vote per Unit owned; in Board elections each Unit Owner elects one Board Member; Sponsor has same right for Unsold Units. (By-Laws Section 4.8, 4.9, page 35-36)

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