9 Barrow Owners Corp.

Key facts from 9 Barrow Owners Corp.'s documents

Reflects the 1988 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 4: 'Name Of Condominium')

Legal name

9 Barrow Condominium

Units / lots

2 (Commercial Unit and Residential Unit) (Schedule B (page 9); Declaration Article)

Developer / declarant

Lowell Associates

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration, introductory paragraph; By-)

Assessments & dues

Not fixed; determined by Board from time to time based on budget; at least annually (By-Laws Article V Section 1)

Special assessments

Board may assess for deficits; for additions/alterations costing >$50,000 require Unit Owner approval (By-Laws Article V Section 1 (deficit), A)

Collections & liens

Statutory lien for unpaid Common Charges under Real Property Law §339-z; Board may foreclose lien and purchase unit at foreclosure sale (By-Laws Article V Sections 6, 7; Declara)

Reserves & fees

Board may include amounts for working capital, general operating reserve, reserve fund for replacements (By-Laws Article V Section 1)

Leasing & rentals

Document does not restrict unit owners from leasing; only sales are subject to right of first refusal. Board may lease units it acquires. (By-Laws Article VII Section 1 (sales onl)

Architectural approval

Residential Unit Owner must obtain prior written consent of Board for any structural addition, alteration or improvement. Board must respond within 30 days; failure to respond constitutes consent. Commercial Unit Owner may make structural a (By-Laws Article V Section 14)

Home business

Home occupation uses permitted by Zoning Resolution are allowed in Residential Units (Declaration Article 7)

Insurance

Not required, but unit owners may carry additional insurance with waivers of subrogation (By-Laws Article V Section 2 (last paragr)

Use restrictions

Residential Units may be used for residential use and home occupation uses permitted by Zoning Resolution of City of New York (Declaration Article 7)

Voting & meetings

Each Unit Owner casts votes equal to 0.0001% of common interest per vote; total votes 1,000,000.00. Fiduciary votes for unit owned in fiduciary capacity. (By-Laws Article III Section 8)

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