12 Sherman Drive Condominium

Key facts from 12 Sherman Drive Condominium's documents

Reflects the 2026 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

12 SHERMAN DRIVE CONDOMINIUM

Developer / declarant

SHERMAN DR DEVELOPMENT LLC

Governing law

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

Assessments & dues

Board determines and levies monthly assessments (common charges) payable in advance to cover common expenses (Bylaws, Article VI, Section 2; Article I)

Special assessments

Allowed; levied and paid in same manner as regular assessments (Bylaws, Article VI, Section 2)

Collections & liens

Unpaid common charges constitute a lien on Unit prior to all other liens except taxes and first mortgages; foreclosure after 90 days past due; Board may purchase unit at foreclosure; Board may accelerate balance of fiscal year after default (Declaration, Article 12; Bylaws, Article)

Reserves & fees

Monthly fee of not more than $15 for delinquent Unit Owner, plus interest at highest legal rate allowed (Bylaws, Article VI, Section 2)

Parking & vehicles

Commercial license plate vehicles may not be parked in Condominium for period in excess of 24 hours (Bylaws, Article VIII, Section 8(e))

Architectural approval

Written consent of Board required for alterations to exterior of Unit or any part of Common Elements, and for interior alterations impairing structural soundness; also for fences or gates (Declaration, Article 17(b); Bylaws, Arti)

Insurance

Fire and water damage insurance covering the Building in amount equal to full replacement value; waivers of subrogation; other insurance as Board determines (Bylaws, Article VII, Section 1)

Use restrictions

Implicit; no immoral, improper, offensive or unlawful use; no trade or business which is a source of annoyance (Declaration, Article 17(d)-(e))

Voting & meetings

Each Unit Owner has one vote for each percentage of common interest; each Unit may appoint a Manager to vote (Declaration, Article 6; Bylaws, Article )

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