44 Collins Ave Condominium

Key facts from 44 Collins Ave 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

44 COLLINS AVE CONDOMINIUM

Developer / declarant

44 Holding NY Corp. (Declaration, p. 1, 4)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration, p. 1, 4)

Assessments & dues

Board determines Common Charges and Special Assessments; budget sets anticipated Common Expenses (By-Laws Sec. 6.1; Declaration Sec. 12 (C)

Special assessments

Allowed for reserve fund, deficiency in insurance/condemnation, capital improvements over $5,000 annually require Unit Owner approval (Declaration p. 15 (definition of Common )

Collections & liens

Notice of unpaid Common Charges to mortgagees; performance by mortgagee; no explicit foreclosure process in provided text (By-Laws Sec. 8.3, 8.4, p. 30)

Reserves & fees

Reserve fund for working capital, replacements, deficits; creation requires Sponsor consent during control period if amount not in budget (Declaration p. 15 (definition of Common )

Leasing & rentals

Leasing is allowed; subject to right of first refusal in favor of Condominium Board (By-Laws Art. 7 (Right of First Refusal),)

Use restrictions

Units may be used only for residential purposes, subject to local law and Certificate of Occupancy; not more than one family per unit without Board approval (Declaration, Art. 9, p. 5)

Voting & meetings

Each Unit Owner casts one vote per percentage of interest owned; cumulative voting for Board elections; Board members elected by majority of votes cast (By-Laws Sec. 4.8, 4.9, p. 35-36)

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