30 Franka Place Condominium

Key facts from 30 Franka Place Condominium's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (NAME: 30 FRANKA PLACE CONDOMINIUM)

Legal name

30 Franka Place Condominium

Developer / declarant

30 FRANKA PLACE LLC, address 3810 14th Avenue, Brooklyn, New York 11218 (Declarant: 30 FRANKA PLACE LLC)

Governing law

Article 9-B of the Real Property Law of the State of New York (Pursuant to Article 9-B)

Assessments & dues

Common Charges and Special Assessments determined by Board based on budget, allocated pro-rata according to Common Interests (Section 2.4(v) and Definitions (6) and ()

Special assessments

Permitted; levied pro-rata for deficits, capital improvements, etc. (Definition (32) and Section 2.4(v))

Collections & liens

Unpaid Common Charges and Special Assessments may result in lien on Unit; Board may enforce payment and eventually foreclose (Section 8.3 of By-Laws and Article 20)

Reserves & fees

Board may create reserve fund; additions require 75% Common Interest vote and/or Sponsor consent during control period (Section 2.5(B) and 2.5(A)(ii))

Leasing & rentals

Yes, but subject to Right of First Refusal by Association and restrictions on transient occupants (Section 5.7(B) and 5.14-5.16 of By-Laws)

Architectural approval

Yes: Board approval required for any alteration, addition, improvement that changes layout, structure, or affects other Units (Section 10 of Declaration and Section 5.)

Maintenance

Unit Owner responsible for interior of Unit and Limited Common Elements; Association responsible for Common Elements (Section 5.1 of By-Laws and Section 8 of )

Insurance

Fire insurance with all risk extended coverage on Building (including Units but excluding personal property of Unit Owners) (Section 5.4(A) of By-Laws)

Use restrictions

Units shall be used only for residential purposes; not more than one family per Unit (Section 9 of Declaration and Section 5.6)

Voting & meetings

One vote per Unit; each Unit Owner (including Sponsor) casts one vote per Unit owned (Section 4.8 and 4.9 of By-Laws)

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