27 Yale Drive Condominium

Key facts from 27 Yale Drive Condominium's documents

Community type

condominium (Page 1: '27 YALE DRIVE CONDOMINIUM')

Legal name

27 Yale Drive Condominium

Developer / declarant

Mayer Gluck and Yehoud Gluck

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Page 3: 'Article 9-B of the Real Propert)

Assessments & dues

Board determines Common Charges and Special Assessments pro-rata by Common Interest; budget adopted annually (By-Laws Section 2.4(v) and Declaration d)

Special assessments

Allowed; Board may levy Special Assessments; Sponsor may veto during control period for reserve fund additions (By-Laws Section 2.5(ii) and Section 6.1()

Collections & liens

Board may enforce payment of Common Charges and assessments; liens may be placed on Units (By-Laws Section 2.4(v) and (xviii) and A)

Reserves & fees

Board may create reserve fund; Sponsor cannot unreasonably withhold consent to addition to contingency fund; material change includes reduction in reserves (By-Laws Section 2.5(ii) and (iii); Decla)

Leasing & rentals

Yes, but subject to Right of First Refusal (Article 7); no transient occupants (short-term rentals prohibited) (By-Laws Article 7 (index) and Section 5.)

Parking & vehicles

Two parking spaces per Unit, located adjacent to each Unit, designated as Limited Common Elements (Declaration Section 8(b): '2 parking spa)

Architectural approval

Board approval required for any alteration, addition, improvement, or layout change in a Unit (Declaration Section 9(a) and By-Laws Sec)

Home business

Professional office use by owner allowed; no other business use specified (By-Laws Section 5.6(A))

Use restrictions

Units may be used for residential purposes and professional office by owner only (By-Laws Section 5.6(A): 'Each Unit may b)

Voting & meetings

Each Unit Owner one vote per unit owned; in Board elections each unit elects one Board Member; Sponsors have control for minimum 2 years (By-Laws Section 4.9 and Section 2.7)

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