323 East 53rd Street Condominium LLC

Key facts from 323 East 53rd Street Condominium LLC's documents

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

Community type

Condominium (Declaration § 1.1: "establish a condomin)

Units / lots

11 (N/K/A Lots 1301-1311, F/K/A Lot 12) (Cover page and Exhibit A: Block 1346, Lo)

Developer / declarant

323 E 53 Street Owner LLC, c/o Maverick Real Estate Partners LLC, 100 Park Avenue, Suite 2805, New York, NY 10017 (Declaration header and § 1.1)

Governing law

Article 9-B of the Real Property Law of the State of New York (New York Condominium Act) (Declaration § 1.1)

Assessments & dues

Board of Managers allocates Common Charges to Unit Owners pro rata in accordance with Common Interest (Exhibit C (4) "Common Charges" definitio)

Special assessments

Permitted; defined as charges allocated pro rata by Board for extraordinary expenses (Exhibit C (35) "Special Assessments" def)

Collections & liens

Condominium Board may acquire Units (including via foreclosure) and hold title on behalf of all Unit Owners (Declaration § 16.1)

Reserves & fees

Common Expenses include establishment/maintenance of a general operating reserve or reserve fund for replacements and working capital (Exhibit C (6)(ii) "Common Expenses" defi)

Leasing & rentals

Yes, in accordance with By-Laws and Rules and Regulations (Declaration § 8.1, 8.3)

Home business

Home office permitted accessory to residential use; no signs allowed (Declaration § 8.1: "home office use here)

Use restrictions

Units primarily for residential use; professional office or other lawful purpose allowed with consent (not unreasonably withheld) and compliance with zoning and certificate of occupancy (Declaration § 8.1, 8.3)

Voting & meetings

Unit Owners vote in proportion to their respective Common Interest (percentage ownership) (Declaration § 11.1, By-Laws § 4.5)

Amendments

General: vote of at least 66-2/3% in number and Common Interest of all Unit Owners; certain amendments (e.g., changing Common Interest) require 100% of affected owners; other amendments (e.g., changes affecting Sponsor's rights) require 80% (Declaration § 18.1, 18.2, 18.3)

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