27 Franka Place Condominium

Key facts from 27 Franka Place Condominium's documents

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

Community type

Condominium

Legal name

27 Franka Place Condominium

Developer / declarant

7 Franka LLC (Page 3)

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 3, Page 13)

Assessments & dues

Condominium Board determines amount and method of payment of Common Charges and Special Assessments (By-Laws Section 2.4(v), Page 3)

Special assessments

Charges allocated and assessed by Board pro rata per Common Interest for extraordinary expenses (Exhibit C, Page 17: 'Special Assessments)

Reserves & fees

No specific reserve fund required; but contingency fund allowed up to 12 months; Sponsor consent needed for creating reserve except as provided in budget (By-Laws Section 2.5, Page 4: 'reserve fo)

Home business

professional office by owner only; no other trade or business (By-Laws Section 5.7, Page 20 and Section)

Voting & meetings

Each unit owner entitled to one vote per percentage of interest owned; cumulative voting in Board elections (By-Laws Sections 4.8 and 4.9, Pages 12-1)

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