30 Parker Street Condominium

Key facts from 30 Parker Street Condominium's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 5 - Name of Condominium: "THE 30)

Legal name

30 Parker Street Condominium

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration preamble; Article 1(a))

Assessments & dues

Common Charges and Special Assessments determined by Condominium Board based on anticipated Common Expenses and income projections, allocated pro-rata according to Common Interests (By-Laws Section 6.1)

Special assessments

Permitted; allocated by Board pro-rata per Common Interests (except as otherwise provided); may be assessed for reserve funds or deficits (By-Laws Section 6.1(C); Exhibit C Defini)

Collections & liens

Condominium Board may perfect a lien against a unit for unpaid Common Charges (Section 4.8(B)); Article 9 of By-Laws (Certain Remedies) presumably includes foreclosure powers (By-Laws Section 4.8(B), Article 9)

Reserves & fees

Common expenses include contributions to a general operating reserve or reserve fund; Board may borrow for reserves with affirmative consent of all Board members if excess of $25,000 (By-Laws Section 2.6(vii); Section 6.1(B))

Leasing & rentals

Leasing permitted subject to Right of First Refusal (Article 7 of By-Laws); no portion of a Unit may be leased; no transient occupant (short-term rental) allowed (By-Laws Section 5.7(B) last sentence; Ar)

Architectural approval

Alterations, additions, or improvements costing more than $5,000 in a calendar year require approval of Unit Owners or Mortgage Representatives; structural work requires Board approval; other improvements do not require Board approval (By-Laws Section 5.2)

Maintenance

Condominium Board maintains Common Elements and structural maintenance of Units; Unit Owners maintain interior of their Units and window glass; costs from negligence of owner borne by owner (By-Laws Section 5.1)

Use restrictions

Units may be used in accordance with local law and zoning; occupancy restricted to individual, family members, and guests; no transient occupants (Article 9; By-Laws Section 5.7)

Voting & meetings

Each Unit Owner has one vote per unit owned; Sponsor has votes for Unsold Units; unit owner in default (lien perfected) cannot vote; Condominium Board cannot vote on units it owns (By-Laws Section 4.8)

Amendments

Declaration may be amended by vote of all Unit Owners; no amendment affecting mortgagee rights without consent; amendment recorded in Register's Office; By-Laws may be amended as per Article 12 of By-Laws (Article 18; By-Laws Article 12)

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