60 Collins Ave Condominium

Key facts from 60 Collins Ave Condominium's documents

Community type

condominium (Article 9-B of the Real Property Law of )

Legal name

60 COLLINS AVE CONDOMINIUM

Developer / declarant

60 Collins LLC (the Declarant)

Governing law

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

Assessments & dues

Common Charges and Special Assessments determined by Condominium Board based on budget, allocated pro-rata according to Common Interests (Section 2.4(v) of By-Laws; definition of)

Special assessments

Allowed for capital improvements, deficiency in insurance proceeds, etc.; requires Unit Owner approval if cost exceeds $5,000 in a calendar year for alterations (Section 5.3 and 5.5(C) of By-Laws)

Reserves & fees

Common Expenses include establishment and maintenance of a reserve fund for replacements and working capital (Definition of Common Expenses in Exhibit)

Leasing & rentals

Yes, subject to Right of First Refusal (Article 7 of By-Laws) and any restrictions that may be imposed only with mortgagee consent (Article 7 (Right of First Refusal) and S)

Architectural approval

Board approval required for alterations, additions, or improvements to Units (except interior non-structural) and to Common Elements (Section 5.2 and 5.3 of By-Laws)

Maintenance

Unit Owner responsible for all maintenance, repairs, replacements within Unit (including interior walls, ceilings, floors, fixtures, windows, doors). Condominium Board responsible for Common Elements. (Section 5.1(A) of By-Laws)

Insurance

Deductible amounts determined by Condominium Board (Section 5.4 (such deductible amounts as )

Use restrictions

Use must comply with local zoning and Certificate of Occupancy; not more than one family per Unit (Section 9 of Declaration)

Voting & meetings

Each Unit Owner casts one vote per percentage of interest owned; cumulative voting allowed in Board elections (Section 4.8 and 4.9 of By-Laws)

Amendments

By vote of at least 67% in number and Common Interest of all Unit Owners; certain amendments require written consent of mortgagees (Section 19 of Declaration)

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