24 Parker Street Condominium

Key facts from 24 Parker Street Condominium's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1, Definition of 'Condominium')

Legal name

24 Parker Street Condominium

Developer / declarant

Maple Park Estates Corp (Preamble)

Governing law

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

Assessments & dues

Common Charges determined annually by Condominium Board based on Common Expenses, pro-rata according to Common Interests (50% each); Special Assessments also pro-rata (By-Laws Section 6.1)

Special assessments

Allowed for Common Expenses, e.g., casualty/condemnation deficits (By-Laws Section 6.1(C), Section 5.5(C))

Collections & liens

Condominium Board may perfect a lien against a Unit for unpaid assessments; voting rights suspended if lien unpaid (By-Laws Section 4.8(B), Section 6.4)

Reserves & fees

Permitted for operating reserve, working capital, or replacement of Common Elements (By-Laws Section 6.1 (definition of Commo)

Leasing & rentals

Yes, entire Unit only; subject to Right of First Refusal by Condominium Board (By-Laws Article 7 (Selling and Leasing o)

Architectural approval

Prior written consent of Condominium Board required for any alteration, addition, or improvement to a Unit (By-Laws Section 5.2(A))

Maintenance

Board (Common Element) (Declaration Article 7 (Common Elements i)

Insurance

Fire insurance with all risk extended coverage, vandalism, malicious mischief; insures Building including Units and bathroom/kitchen fixtures and service machinery (not personal property); also rent insurance, workers compensation, boiler a (By-Laws Section 5.4(A), (B))

Use restrictions

Yes; Units restricted to occupancy by individual/entity, family members, and guests; no transient occupants (By-Laws Section 5.7(B))

Voting & meetings

Each Unit Owner entitled to one vote per unit owned; Sponsor votes for Unsold Units; no vote if lien perfected and unpaid (By-Laws Section 4.8)

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