12 Park Street Condominium

Key facts from 12 Park Street Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title: 'Establishing a Plan for Condomin)

Legal name

12 Park Street Condominium

Developer / declarant

HYLT DEVELOPERS LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1 'Pursuant to Article 9-B of the R)

Assessments & dues

Board determines Common Charges based on budget and Common Interests (By-Laws Section 2.4(v) and Section 6.1)

Special assessments

Allowed; allocated pro-rata by Common Interests (Exhibit C Definition (33) and By-Laws Se)

Collections & liens

Board may file lien after 30 days delinquency and foreclose (By-Laws Section 6.4 'If any Common Charg)

Reserves & fees

Common Charges may establish general operating reserve and reserve fund for replacements (Exhibit C Definition (7) 'the establishm)

Leasing & rentals

Yes, subject to Right of First Refusal (By-Laws Article 7 'Selling and Leasing o)

Architectural approval

Yes, for modifications requiring approval; Board must respond within 15 days; failure deemed waiver (By-Laws Section 5.1(A) 'Board must respo)

Use restrictions

Units shall be used for private residential purposes only, not more than one family per unit (Declaration Article 9(a) 'used for priva)

Voting & meetings

Each unit owner entitled to one vote per unit; Sponsor votes for Unsold Units; subdivided units share vote. (By-Laws Section 4.8 'each Unit Owner sha)

Amendments

Declaration amendment requires 66 2/3% vote of Unit Owners; By-Laws amendment requires 66 2/3% vote of Unit Owners (Declaration Article 18 and By-Laws Secti)

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