11 First Street Condominium

Key facts from 11 First Street Condominium's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

11 First Street Condominium

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1 (title), Page 3 (Article I), Page)

Assessments & dues

Board of Managers shall fix and determine budget annually, assess total amount as a single sum against all Units prorated according to common interest. Payable monthly in advance. (By-laws Article VI Section 2, Page 17-18)

Special assessments

Special assessments shall be levied and paid in same manner as regular assessments. (By-laws Article VI Section 2, Page 18)

Collections & liens

Unpaid common charges and interest are a chargeable lien against the Unit. Board may foreclose lien under Real Property Law Section 339. Attorneys' fees and costs may be recovered (but not a lien). (Article 12 (Declaration), Page 7; By-law)

Reserves & fees

Not explicitly mentioned as a separate reserve fund, but By-laws Article VI Section 2 includes 'reserves' as an operational item in budget. (By-laws Article VI Section 2, Page 17-18)

Leasing & rentals

Not explicitly addressed. Article 14 (Declaration) mentions sale or lease of Unit subject to Declaration and By-laws. By-laws Article XI (Restrictions on Conveyances) restricts conveyance or lease without compliance with section (common cha (Article 11, Page 7; By-laws Article XI, )

Fences

No fence or gate shall be erected without prior written consent of Board; no existing wall or fencing altered without written consent. (By-laws Article VIII Section 8(d), Page )

Architectural approval

No alterations to exterior of Unit or any part of common elements, and no structure built on common elements or restricted common elements without written consent of Board of Managers. No alterations impairing structural soundness without w (Article 14(b), Page 8; By-laws Article V)

Home business

No immoral, improper, offensive or unlawful use; no specific prohibition of home business but likely restricted given residential use only. (Article 14(f), Page 8; By-laws Article V)

Signs & flags

No resident shall post any advertisement or posters of any kind except as authorized by Board of Managers. (By-laws Article VIII Section 8(a), Page )

Maintenance

Owner responsible for maintenance, repairs, replacements of their Unit and any common elements restricted to their use. Board responsible for maintenance, repairs, replacements to common elements (including snow removal, painting, etc.). If (By-laws Article II Section 6, Page 15-16)

Use restrictions

All Units shall be used for residential purposes only. (By-laws Article VIII Section 2, Page 20)

Voting & meetings

Each Unit Owner shall have one vote for each percentage of common interest set forth in Exhibit B. (Article 8, Page 6; By-laws Article III S)

Amendments

Declaration may be amended by Board upon vote of 66-2/3% of Unit Owners in number at a duly called meeting. Certain amendments require mortgagee approval (51% of first mortgage votes). Amendments to By-laws require 66-2/3% of Unit Owners. (Article 10(b), Page 6; By-laws Article X)

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