105 West 78th Street Condominium, Corp.

Key facts from 105 West 78th Street Condominium, Corp.'s documents

Reflects the 1983 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1.1: "regime for the condominium)

Legal name

105 West 78th Street Condominium

Units / lots

Originally 4 tax lots (1001-1004) then 5 after correction (1004 split into 1004 and 1005) (Schedule B (DOC 64267, pages 21-24) and )

Governing law

Article 9-B of the Real Property Law of the State of New York (New York Condominium Act) (Article 1.1 (DOC 64267, page 1))

Assessments & dues

Not fixed; Common Charges determined annually by Board based on budget. (By-Laws 6.1-1 (DOC 64267, page 47): "Boa)

Special assessments

Not explicitly named; but Board may borrow money with 66 2/3% owner consent for amounts over $10,000 in a calendar year, subject to no lien on unit without owner consent. (By-Laws 2.2-2.10 (DOC 64267, page 30-31))

Collections & liens

If Board borrows money and doesn't repay, a Unit Owner who pays his proportion can obtain release from creditor of lien on his unit (2.2-2.10). Otherwise no specific lien for unpaid assessments mentioned; but enforcement by legal means (2.2 (By-Laws 2.2-2.10 (DOC 64267, page 31): ")

Reserves & fees

Board may include in Common Expenses amounts for general operating reserve or reserve for replacements. (By-Laws 6.1-1 (DOC 64267, page 47): "Com)

Leasing & rentals

Yes, Units may be leased in accordance with By-Laws and Rules and Regulations. (Declaration Article 7 (DOC 64267, page 6)

Architectural approval

Yes, consent of Condominium Board required for alterations, additions, improvements, changes to layout, subdivision/combination of units. Consent shall not be unreasonably withheld. (Declaration Article 8 (DOC 64267, page 6)

Home business

Not specifically addressed; general residential use suggests prohibited unless allowed by By-Laws/Rules. (Declaration Article 7: "residential purp)

Use restrictions

Yes, Units may be used for residential purposes only. (Declaration Article 7 (DOC 64267, page 6)

Voting & meetings

Each Unit Owner entitled to one vote for each .0001% of Common Interest (proportionate to percentage interest in Common Elements). Fiduciary may vote for unit owned in fiduciary capacity. Board cannot vote interests of units it owns. (By-Laws 3.8-1 and 3.8-2 (DOC 64267, page)

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