16 Ostereh Boulevard Condominium

Key facts from 16 Ostereh Boulevard Condominium's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

16 OSTEREH BOULEVARD CONDOMINIUM

Developer / declarant

Rabbi Yakov Yosef Trust

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration Article FIRST, By-laws Artic)

Assessments & dues

Board of Managers determines budget at least annually and assesses common charges pro rata according to each unit's common interest (percentage from Exhibit B). (By-laws Article VI Section 2)

Special assessments

Yes, may be levied and paid in the same manner as regular assessments (By-laws Article VI Section 2)

Collections & liens

Common charges constitute a lien on the unit prior to all other liens except tax and first mortgage liens; lien may be foreclosed like a mortgage. Unpaid balance after foreclosure becomes common expense charged to all unit owners. Mortgagee (Declaration Article TWELFTH; By-laws Art)

Reserves & fees

Board of Managers shall maintain accounts it deems necessary (no specific reserve requirement) (By-laws Article VI Section 7)

Pets

Yes, but must not be disturbing or a nuisance (By-laws Article VIII Section 3 (referenc)

Leasing & rentals

Yes, but subject to right of first refusal by Board of Managers and payment of all unpaid common charges prior to lease. Violation voidable at Board's election. (By-laws Article XI Section 1)

Parking & vehicles

Commercial license plate vehicles may not be parked for a period in excess of 24 hours (By-laws Article VIII Section 8(e))

Architectural approval

Alterations to exterior of unit, common elements, or structure on common elements require prior written consent of Board of Managers. Structural interior alterations also require consent. (Declaration Article SEVENTEENTH(b), By-l)

Maintenance

Board: all maintenance, repairs, replacements to common elements (exterior walls, roof, roof members, public utility lines in common elements, exterior maintenance). Unit owner: interior (electrical, plumbing, painting/decorating), windows, (By-laws Article III Section 6)

Insurance

Fire insurance with extended coverage, vandalism, malicious mischief endorsements insuring Building, fixtures, equipment initially installed by Sponsor, together with heating, air conditioning, water equipment and other service machinery. A (By-laws Article VII Section 1)

Use restrictions

Yes (Declaration Article SEVENTEENTH(i); By-l)

Voting & meetings

Each unit owner has one vote per unit (By-laws Article II Section 2, Section 5). Each unit appoints a Manager who votes. Declaration Article EIGHTH states 'one vote for each percentage of common interest' – ambiguity. (By-laws Article II Section 2 and 5; Decl)

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