53 South Madison Avenue Condominium

Key facts from 53 South Madison Avenue Condominium's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

53 SOUTH MADISON AVENUE CONDOMINIUM

Units / lots

7 (203, 204, Basement, Utility, First, Second, Attic per Exhibit B) (Exhibit B, page 10: Unit Designation lis)

Developer / declarant

53 SOUTH MADISON LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 1, Submission of Property)

Assessments & dues

Board of Managers determines budget at least annually and levies monthly assessments in advance (By-laws Article VI, Section 2)

Special assessments

Board may levy special assessments in same manner as regular assessments (By-laws Article VI, Section 2)

Reserves & fees

$15 late fee per default (By-laws Article VI, Section 2: 'The Boar)

Pets

Pets are allowed but must not cause nuisance or disturbance (By-laws Article VIII, Section 3: 'their )

Maintenance

Roof is common element, maintained by Board (Declaration Article 5: 'outside walls an)

Insurance

Not required, but any owner insurance must contain waiver of subrogation and not reduce liability of board's carriers (By-laws Article VII, Section 1: 'Unit Ow)

Voting & meetings

All Unit Owners must be present or represented by proxy to constitute a quorum (By-laws Article II, Section 3)

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