46 Ellish Pkwy Condominium

Key facts from 46 Ellish Pkwy Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

46 ELLISH PKWY CONDOMINIUM

Developer / declarant

BARBARA SCHWIMMER (Declaration page 4)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration preamble and Article 26)

Assessments & dues

The Condominium Board prepares and adopts a budget for each fiscal year, determining the amount of Common Charges and Special Assessments to collect from Unit Owners. (By-Laws Section 2.4(iv)(v))

Special assessments

The Condominium Board may levy Special Assessments pro-rata in accordance with Common Interests as per By-Laws Section 6.1(C). (By-Laws Section 6.1(C) (referenced in Ex)

Collections & liens

The Condominium Board may perfect a lien against a Unit Owner's Unit for unpaid common charges. A Unit Owner whose Unit is subject to a perfected lien loses voting rights. (By-Laws Section 4.8(B))

Reserves & fees

While Sponsor controls, the Board may not establish any reserves except a twelve-month reserve for contingencies not exceeding ten percent of budgeted operating expenses, unless required by law, notice of violation, work order, or health an (By-Laws Section 2.5 (last part))

Maintenance

Not explicitly stated; presumably part of Common Elements maintained by Condominium Board. (Common Elements definition in Declaratio)

Insurance

All risk extended coverage insurance covering all Units and their improvements, including bathroom, kitchen, and laundry fixtures. Also comprehensive general liability insurance covering claims for personal injury or property damage on the (By-Laws Sections 5.4(A)(B))

Voting & meetings

Each Unit Owner casts one (1) vote per percentage of Common Interest owned. Sponsor (Declarant) may vote as long as it owns unsold Units. After Sponsor Control, if Sponsor no longer owns any Units, it shall not vote. (By-Laws Sections 4.8, 2.7)

Amendments

Amendments to Declaration require approval of 67% of Unit Owners (or 80% for termination/withdrawal). Material amendments also require consent of eligible mortgage holders representing at least 51% of votes of mortgaged units. Board may ame (Declaration Article 19)

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