53 Ridge Ave Condominium

Key facts from 53 Ridge Ave 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, Declaration; page 5)

Legal name

53 RIDGE AVE CONDOMINIUM

Developer / declarant

186 EASTERN KATSNNE

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Page 1; Article 2; Article 26)

Assessments & dues

Board determines Common Charges and Special Assessments after adopting a budget for each fiscal year, setting forth anticipated Common Expenses and required income. (Section 2.4(iv)-(v))

Special assessments

Board may levy Special Assessments for reserves, deficiencies, etc. Limitations during Sponsor control: consent needed for addition to contingency fund unless required by law. (Section 2.4(vi), Section 6.1(C) of By-La)

Collections & liens

Board may perfect a lien against a Unit for unpaid common charges. No vote at meeting if lien exists and amount has not been reduced. Board may foreclose on such lien. (Section 4.8(B); Article 8 of By-Laws (no)

Reserves & fees

Board may create reserves for contingencies, repairs, replacements. During Sponsor control, addition to contingency fund not unreasonably withheld. (Section 2.5(ii); Section 6.1(C) of By-La)

Architectural approval

Alterations, additions, or improvements to Units require approval of the Condominium Board. For structural work or changes affecting other units, additional consents needed. (Section 5.2; Article 6 of By-Laws)

Maintenance

Unit Owner responsible for maintenance of interior of Unit (walls, ceilings, floors, fixtures, windows, doors, etc.). Board responsible for Common Elements. Unit Owner also responsible for limited common elements (decks, patios, parking spa (Section 5.1; Article 8 (Limited Common E)

Insurance

Board may determine deductible amounts. (Section 5.4(C))

Voting & meetings

Each Unit Owner (including Sponsor/designee) has one vote per Unit owned. In Board elections, each Unit Owner elects one Board Member. After Sponsor Control, each Unit Owner elects one Board Member. (Sections 4.8, 4.9, 2.7)

Amendments

Amendments require vote of all Unit Owners (or written consent). Sponsor may amend without unit owner approval for filing floor plans. Board may amend to divide into separate boards. Material amendments require consent of eligible mortgage (Article 19)

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