60 Park Lane Condominium

Key facts from 60 Park Lane Condominium's documents

Reflects the 2025 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1, Declaration; Article II, Byla)

Legal name

60 Park Lane Condominium

Units / lots

5 (Units 102, 112, 113, 202, 211 appear in Exhibit B; also Unit 207 referenced in tax lots but not in unit list) (Exhibit B (Breakdown of Units); Exhibit )

Developer / declarant

Good Step 6 LLC (Page 1, Declaration preamble)

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 1, Declaration; Bylaws Article I)

Assessments & dues

Board prepares budget, determines total amount needed, then assesses pro rata according to common interest percentages. (Bylaws Article VI Section 2)

Special assessments

Allowed; levied and paid in same manner as regular assessments. (Bylaws Article VI Section 2)

Collections & liens

Unpaid common charges become a lien on the unit. Board may foreclose after 90 days past due. Purchaser at foreclosure not liable for prior charges. Mortgagee acquiring title liable for max 6 months of unpaid regular dues. (Bylaws Article VI Section 2, Section 3; )

Reserves & fees

Board shall establish and maintain a Reserve Fund for capital replacements and repairs (e.g., roadways, heating, cooling systems). (Bylaws Article III Section 1(q))

Leasing & rentals

Leasing is permitted subject to payment of unpaid common charges and Board's right of first refusal on sale. Lease of unit in violation voidable at Board's election. (Bylaws Article XI Section 1)

Architectural approval

Written consent of Board required for any alterations to exterior or common elements, and for interior alterations that impair structural soundness. (Bylaws Article VIII Section 7)

Home business

Home office (lawful purposses) allowed. (Bylaws Article VIII Section 2)

Maintenance

Board responsible for roof (exterior surfaces of buildings). (Bylaws Article III Section 6 (Board shal)

Insurance

Fire insurance extended coverage for full replacement value of buildings covering all Units and common elements. Also other insurance as Board determines. Policy must contain waiver of subrogation and mortgagee clause. (Bylaws Article VII Section 1)

Use restrictions

Yes, units shall be used only for residential purposes and other lawful purposes such as home office. (Bylaws Article VIII Section 2)

Voting & meetings

Each Unit shall appoint a Manager who is entitled to vote. Each Unit has one vote per seat. Proxy allowed in writing. (Bylaws Article II Section 5 (appointment)

Amendments

Declaration amendment requires 75% vote of Unit Owners in number, plus consent of mortgagees representing at least 51% of unit votes (first-lien mortgages) if material adverse. Bylaws amendment not explicitly detailed except by Board action (Declaration Article 11(b))

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