3 Albert Drive Condominium

Key facts from 3 Albert Drive Condominium's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

3 ALBERT DRIVE CONDOMINIUM

Developer / declarant

ALBERT DEVELOPMENT LLC (Declaration, page 3: 'ALBERT DEVELOPMENT)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration, page 3: 'Pursuant to Articl)

Assessments & dues

Condominium Board prepares budget and determines Common Charges (By-Laws Section 2.4(iv)-(v), page 25: 't)

Special assessments

Allowed; defined as charges allocated pro-rata by Board (Declaration Exhibit C, definition (34), )

Reserves & fees

Common Expenses include establishment/maintenance of reserve fund; Sponsor's limitations: reserve for contingencies limited to 10% of budgeted operating expenses for 12 months unless for health/safety or law (By-Laws Section 2.5(B), page 29: 'establ)

Architectural approval

Yes, for exterior alterations or improvements; also for any alteration to parts of property allocated to a unit (Declaration Section 9(ii), page 6: 'subj)

Maintenance

See maintenance_responsibility; additionally, damage caused by negligence of Unit Owner or Board is borne by that party (By-Laws Section 5.1(B), page 38: 'if any)

Voting & meetings

Each unit owner casts one vote per percentage interest owned (By-Laws Section 4.8(A), page 37: 'Each o)

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