13 Paikin Drive Condominium

Key facts from 13 Paikin Drive Condominium's documents

Reflects the 2011 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

13 Paikin Drive Condominium

Developer / declarant

Chavy Landau and Lipa Landau

Governing law

Article 9-B of the Real Property Law of the State of New York (FIRST: Submission of Property, Page 4)

Assessments & dues

Board determines budget at least annually, assesses pro-rata based on square footage per Unit, including limited common elements (By-laws Article VI Section 2, Page 22)

Special assessments

Board may levy special assessments in same manner as regular assessments (By-laws Article VI Section 2, Page 22)

Collections & liens

Unpaid common charges constitute a lien on the Unit, prior except taxes and first mortgages; may be foreclosed like a mortgage; attorneys fees recoverable (Declaration TWELFTH, Page 7; By-laws Art)

Reserves & fees

Maximum interest permitted in New York on unpaid common charges (Declaration TWELFTH, Page 7)

Pets

Allowed but must not be illegal, disturbing, or nuisance (House Rules Section 3, Page 25)

Leasing & rentals

Leasing allowed subject to payment of unpaid common charges; Board of Managers has right of first refusal on resale (By-laws Article XI Section 1, Page 27)

Parking & vehicles

Commercial license plate vehicles not parked for more than 24 hours (House Rules Section 8(e), Page 26)

Fences

Fence or gate requires prior written consent of Board; existing wall/fencing not altered without consent (House Rules Section 8(d), Page 26)

Architectural approval

Required for exterior alterations; for interior alterations affecting structural soundness; for fences/gates; for structures on common/limited common elements (Declaration SEVENTEENTH (b), Page 8; Hou)

Home business

Prohibited: no trade or business shall be practiced (Declaration SEVENTEENTH (f), Page 8)

Maintenance

Board (common expense) (By-laws Article III Section 5, Page 19)

Insurance

Fire insurance with extended coverage, water damage, vandalism, malicious mischief; insuring Building, improvements, fixtures, equipment; public liability insurance of $1,000,000 (By-laws Article VII Section 1 and Sectio)

Use restrictions

Occupancy restricted to residential occupancy in accordance with zoning; no trade or business practiced (Declaration SEVENTEENTH (i) and (f), Pag)

Voting & meetings

Each Unit Owner has one vote for each percentage of common interest (weighted); however By-laws state each Unit Owner has one vote per Unit owned (Declaration EIGHTH, Page 6; By-laws Arti)

Amendments

By vote of 66-2/3% of Unit Owners in number and common interest, executed by Board, recorded; material adverse amendments require consent of mortgagees representing 51% of votes of units subject to mortgages (Declaration TENTH, Page 6; By-laws Artic)

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