48 Ridge Avenue Condominium

Key facts from 48 Ridge Avenue Condominium's documents

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

Community type

Condominium (Page 1, name: 48 RIDGE AVENUE CONDOMINIU)

Legal name

48 Ridge Avenue Condominium

Developer / declarant

69 S Madison NY LLC (Page 1, Declarant: 69 S MADISON NY LLC)

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1, line: PURSUANT TO ARTICLE 9-B)

Assessments & dues

Board fixes annual budget, total amount prorated to each Unit according to respective common interest. Assessments payable monthly in advance. (By-laws Article VI Section 2)

Special assessments

Special assessments levied and paid in same manner as regular assessments. (By-laws Article VI Section 2)

Collections & liens

Unpaid common charges constitute a lien on the Unit prior to all other liens except taxes. If unpaid 90 days from due date, Board shall foreclose lien. Foreclosure sale proceeds applied to unpaid charges. (Declaration Article 12; By-laws Article )

Reserves & fees

Not specifically addressed. Budget includes reserves for betterments. (By-laws Article VI Section 2 mentions 'r)

Leasing & rentals

Unit Owner may sell or lease Unit provided all unpaid common charges are paid. Board has right of first refusal to buy any Unit offered for resale. (By-laws Article XI Section 1)

Parking & vehicles

Commercial license plate vehicles may not be parked in the Condominium for a period (text incomplete). (By-laws Article VIII Section 8(e))

Architectural approval

Consent requested by certified mail to Management Agent or President. Board must answer within 60 days; failure to respond means no objection. (Declaration Article 17(b); By-laws Artic)

Home business

Home office is excepted from prohibition on commercial use. (By-laws Article VIII Section 2: 'cannot )

Maintenance

Roofs are part of common elements, so Association responsibility. (Declaration Article 5: 'outside walls an)

Insurance

Board shall obtain fire insurance insuring Building for full replacement value, covering Condominium, Board, all Unit Owners and mortgagees. Also public liability insurance minimum $1,000,000 per occurrence. (By-laws Article VII Section 1)

Use restrictions

Units shall be used for residential purposes only. Cannot be used for commercial office (except home office) or any other nonresidential use. (By-laws Article VIII Section 2)

Voting & meetings

Each Unit Owner entitled to one vote per Unit (or per units if owns multiple). Board of Managers does not cast votes. (By-laws Article II Section 2)

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