20 Hoyt Street Condominium

Key facts from 20 Hoyt Street Condominium's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

20 HOYT STREET CONDOMINIUM

Developer / declarant

HOYT COLE DEQY

Governing law

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

Assessments & dues

Common Charges determined by Condominium Board based on budget, allocated pro-rata according to Common Interests (By-Laws Section 2.4(v), page 24; Exhibit)

Special assessments

Charges allocated and assessed by Condominium Board to Unit Owners pro-rata in accordance with Common Interests (Exhibit C definition (32) Special Assess)

Reserves & fees

Common Expenses include maintenance of a reserve fund for working capital and replacements. Creation or replacement of reserve fund requires Sponsor consent during control period. (Exhibit C definition (7) Common Expenses)

Leasing & rentals

Units may be used by Owner or permitted lessees. (Declaration Section 9, page 6)

Architectural approval

Yes, for alterations, additions, improvements to units and Common Elements. Interior alterations subject to Board approval if affecting allocated property; changes to Common Elements require Board action and, if over $5,000, approval of all (By-Laws Section 5.2, page 37-38; Section)

Maintenance

Unit Owner responsible for interior painting, decorating, maintenance, replacements (including windows, doors, fixtures, etc.). Condominium Board responsible for Common Elements. Limited Common Elements (decks) maintained by appurtenant Uni (By-Laws Section 5.1(A), page 36-37; Decl)

Insurance

May be determined by Condominium Board. (By-Laws Section 5.4(C), page 40)

Use restrictions

Each Unit may be used for residential purposes permitted by local law and Certificate of Occupancy; no more than one family per Unit at one time. (Declaration Section 9, page 6)

Voting & meetings

Each Unit Owner (including Sponsor) gets 1 vote per Unit owned. In Board elections, each Unit Owner elects one Board Member. (By-Laws Section 4.9(A), page 36; Section)

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