25 Collins Ave Condominium

Key facts from 25 Collins Ave Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Throughout)

Legal name

25 COLLINS AVE CONDOMINIUM

Developer / declarant

25 COLLINS LLC

Governing law

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

Assessments & dues

Board determines amount of Common Charges and Special Assessments, allocated pro rata according to each Unit's Common Interest. Budget adopted annually. (By-Laws Section 2.4(iv), (v); Section 6.)

Special assessments

Permitted. Board may levy Special Assessments as defined in Definitions (32) and per By-Laws Section 6.1(C). Also for casualty/condemnation deficiencies. (Exhibit C Definitions (32); By-Laws Sect)

Collections & liens

Condominium may file a lien against a Unit for unpaid common charges. No Unit Owner may vote if Condominium has filed a lien against their Unit. Foreclosure process not detailed. (By-Laws Section 4.8(B) (voting prohibite)

Reserves & fees

Board may create reserve funds for working capital, replacements, etc. Sponsor consent required for assessments for reserve fund during control period. Reserve fund cannot be used unless required by law or health/safety. (Exhibit C Definitions (7)(iii) (Condomin)

Leasing & rentals

Implied allowed; Units may be leased by Board or by owners subject to Board's right of first refusal (By-Laws Article 7) and restrictions on leasing that may be imposed by amendment (Article 18(b)(ix)). (Article 16, 17 (Board power to acquire a)

Architectural approval

Alterations, additions, or improvements to any part of the Property allocated to a Unit subject to approval of the Board. Interior alterations not requiring structural changes may be done without approval? Actually Article 9 says owner may (Article 9 (Use of the Units): 'make alte)

Home business

Not explicitly prohibited; allowed if in compliance with local law and zoning. (Article 9 - 'in accordance with the use )

Use restrictions

Each Unit may be used in accordance with local law and zoning; not more than one family per Unit. (Article 9 - Use of the Units)

Voting & meetings

Each Unit Owner (including Sponsor for Unsold Units) entitled to one vote per Unit owned. In Board elections, each Unit Owner entitled to elect one Board Member. For jointly owned Units, one person designated to vote. Proxy allowed by writt (By-Laws Section 4.8, 4.9)

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