18 Warren Street Condominium Ltd.

Key facts from 18 Warren Street Condominium Ltd.'s documents

Reflects the 1989 governing documents — figures and rules are as originally recorded and may have changed since.

Developer / declarant

Chai Warren Realty Company, a New York general partnership (Declaration, preamble; Exhibit B, defini)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration, Article 2; By-Laws, Section)

Special assessments

Permitted; defined in Exhibit B definition (39); Board may levy Special Assessments per By-Laws Section 6.1(C) (By-Laws, Section 6.1; Exhibit B definiti)

Reserves & fees

Board may establish reserve funds for replacements, working capital, deficit; limited during initial control period to 5% of estimated annual expenses without Sponsor consent (Exhibit B definition (8); By-Laws Sectio)

Use restrictions

Unit 1: commercial use only; absolute prohibition against bar/grill, disco, dance hall or similar; for 5 years from filing, no restaurant sales of food or alcoholic beverage. Units 2-5: residential, one family per unit; home occupations per (Declaration, Article 6(A) and Article 9()

Voting & meetings

Voting by Unit Owners based on Common Interest percentages; deadlock: 50% Unit 1 vs 50% Units 2-5, Units 2-5 prevail (By-Laws, Section 4.8; Exhibit B definiti)

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