103 Decatur Ave Condominium

Key facts from 103 Decatur Ave Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration Section 5)

Legal name

103 DECATUR AVE CONDOMINIUM

Developer / declarant

103 DECATUR, LLC (Declaration (first page of text))

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration p 2 (recital))

Assessments & dues

Board determines Common Charges and Special Assessments pro-rata according to respective Common Interests (except as otherwise provided) (By-Laws Section 2.4(v), 6.1; Definitions)

Special assessments

Yes, defined and authorized; Board may levy Special Assessments pro-rata (Definitions (33); By-Laws Section 6.1(C))

Collections & liens

Yes, Condominium may create liens for unpaid common charges; Board has power to enforce by legal means (By-Laws Section 2.4(xviii); Declaration )

Reserves & fees

During declarant control, reserves limited to a twelve-month reserve for contingencies not exceeding 10% of budgeted operating expenses (By-Laws Section 2.5(B))

Architectural approval

Yes, Board prior written consent required for alterations/additions/improvements to parts of property allocated to unit; exterior changes if design differs from original (Declaration Section 10(ii), (iv))

Use restrictions

Each Unit may be used only for residential purposes and in accordance with local law and zoning (Declaration Section 9)

Voting & meetings

Each Unit Owner casts one vote per percentage of common interest owned. Cumulative voting allowed. Sponsor controls majority vote as long as owns majority of Units. Fiduciaries vote; co-owners designate one vote. (By-Laws Section 4.8, 4.9; Declaration Se)

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