22 Ridge Avenue Condominium

Key facts from 22 Ridge Avenue Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title)

Legal name

22 Ridge Avenue Condominium

Governing law

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

Assessments & dues

Condominium Board determines Common Charges based on each fiscal year's budget, allocated per Common Interest percentages (By-laws Section 6.1)

Special assessments

Allowed; Sponsor's consent required during initial control for certain assessments (except those required by law) (By-laws Section 2.7 and Section 6.1)

Collections & liens

Condominium Board may file a lien for unpaid Common Charges; may acquire Units via foreclosure or other sale (By-laws Section 6.4 and Declaration Arti)

Reserves & fees

General operating reserve and fund for replacements established as part of Common Expenses (Exhibit C definition of "Common Expenses)

Maintenance

Condominium Board (Common Element per Article 7) (Article 7 (page 6) and By-laws Section 5)

Insurance

Fire insurance with all risk extended coverage, vandalism, malicious mischief, insuring Building (including Units and bathroom/kitchen fixtures, service machinery but not personal property); includes New York standard mortgagee clause (By-laws Section 5.4(A) (page 45))

Use restrictions

Yes, each Unit may be used only for residential purposes, not more than one family, no transient occupants (Declaration Article 9 (page 7) and By-la)

Voting & meetings

Each Unit Owner has one vote per unit owned; Sponsor has initial control and designates two Board members (By-laws Section 4.8 and Section 2.7)

Amendments

Declaration may be amended by vote of sixty-six and two-thirds percent (66 2/3%) of Unit Owners; executed by Sponsor or its designee or by Unit Owners affected; recorded in Kings County Register's Office (Declaration Article 18 (page 13))

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