1 Vincent Road Condominium

Key facts from 1 Vincent Road Condominium's documents

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

Community type

Condominium

Legal name

1 Vincent Road Condominium

Units / lots

5 residential units (Article 4: 'The building contains five ()

Developer / declarant

1 Vincent Road LLC (1308 53rd Street, Suite 54, Brooklyn, NY 11219) and Herman 42nd Street LLC (1374 42nd Street, Brooklyn, NY 11219) (Article 1; '1 Vincent Road LLC ... & Her)

Governing law

Article 9-B of the Real Property Law of the State of New York (Pursuant to Article 9-B of the Real Prop)

Assessments & dues

Condominium Board prepares and adopts annual budget, determines amount of Common Charges and Special Assessments, and establishes means and methods of payment (By-Laws Section 2.4(iv), (v))

Special assessments

Board may levy Special Assessments for deficits, capital items, repairs, or casualty/condemnation shortfalls; proposed alterations/improvements costing more than $5,000 in aggregate in any calendar year require approval of all Unit Owners a (By-Laws Section 2.4(v), (viii), (xi); Se)

Collections & liens

Condominium Board has a lien on each Unit for unpaid Common Charges and may enforce by foreclosure or other appropriate action (By-Laws Section 6.4; Common Charges defi)

Reserves & fees

Board must open and maintain a reserve fund to pay for replacement items likely to be needed (By-Laws Section 2.4(xii))

Leasing & rentals

Leasing of Units permitted subject to By-Laws, including Board right of first refusal and other restrictions (By-Laws Article 7; Article 9(a) 'in acco)

Architectural approval

Alterations, additions, improvements, or changes in or to a Unit affecting other Units or Common Elements require consent of affected Unit Owner(s) and/or Condominium Board approval (Article 12(a); By-Laws Section 5.3(A))

Maintenance

Roofs are part of Common Elements unless expressly included in a Unit (Article 7(A)(ii): 'roofs and ceilings ..)

Insurance

Deductible amounts determined annually by Board and borne as Common Expense (By-Laws Section 5.4(D))

Use restrictions

Each Unit may be used in accordance with the use permitted by local law, zoning regulations, and Certificate of Occupancy; may be occupied by principal, corporation, partnership, employee, fiduciary, beneficiary, or family members (Article 9(a))

Voting & meetings

Each Unit Owner has one vote per Unit owned; when title is held by two persons, each co-owner entitled to one-half vote (By-Laws Section 4.8(A), (C))

Amendments

Declaration may be amended by majority vote of Unit Owners taken per By-Laws and recorded in Rockland County Register's Office; amendment cannot limit mortgagee rights (Article 18(a)-(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.