2 Francis Place Condominium

Key facts from 2 Francis Place Condominium's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

2 Francis Place Condominium

Developer / declarant

Williamsburg Equities LLC

Governing law

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

Special assessments

Charges allocated pro-rata by Common Interests (except as otherwise provided) in accordance with By-Laws Section 6.1(C) (Exhibit C Definition (33) and By-Laws Se)

Reserves & fees

Board may establish reserves, but not more than a twelve-month reserve for contingencies not exceeding 5% of budgeted operating expenses (By-Laws Section 2.3(iv))

Architectural approval

No Unit Owner shall make structural alterations, additions, improvements, or repairs in or to Unit or Limited Common Elements without prior written approval of Condominium Board (By-Laws Section 5.3(A))

Home business

With consent of Condominium Board, a Unit may be used as a business office or for any other purpose complying with law and Certificate of Occupancy (Article 8(a)(ii) of Declaration)

Use restrictions

Each Unit (except retail/community facility units) may be used only as a residence (Article 8(a) of Declaration)

Voting & meetings

One vote per Unit. Co-owners designate one person to vote. Proxy allowed for up to 6 months. Fiduciary votes for owned unit. (By-Laws Section 4.7 (A)-(C))

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