14 Fanley Avenue Condominium

Key facts from 14 Fanley Avenue Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

14 Fanley Avenue Condominium

Developer / declarant

Bernard Feder

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration, p.1, first paragraph)

Assessments & dues

Common Charges and Special Assessments allocated pro-rata according to Common Interests of each Unit (Definitions (5) and (33) in Exhibit C (p)

Special assessments

Permitted; allocated by Condominium Board pro-rata; requires 80% board approval for improvement/alteration additions unless required by law (Definitions (33) (p.20); By-Laws Section)

Collections & liens

Implied by notice of unpaid Common Charges and default procedures for mortgagees (By-Laws Article 8); explicit lien process not detailed (By-Laws Section 8.3 (p.39) (index refere)

Reserves & fees

Board may not establish reserves except a reserve for contingencies not exceeding 5% of budgeted operating expenses (By-Laws Section 2.3(iv) (p.33))

Leasing & rentals

Yes, but subject to right of first refusal (Article 7) and no transient occupants; no portion of a Unit may be leased, only whole Unit (By-Laws Article 7 index (p.25) and Secti)

Architectural approval

Yes, for structural alterations, additions, improvements, or repairs in or to Unit or Limited Common Elements; prior written approval of Condominium Board required (By-Laws Section 5.3(A) (p.44))

Home business

With prior written consent; must comply with law and certificate of occupancy (By-Laws Section 5.7(B) (p.50))

Signs & flags

Sponsor has right to erect and maintain signs of any size on Common Elements; otherwise signs likely prohibited or subject to Rules (By-Laws Section 5.8(B) (p.51))

Maintenance

Roof is part of General Common Elements, maintained by Condominium Board (Declaration Article 6(b)(iv) (p.6) inclu)

Use restrictions

Each Unit shall be used only as a residence or as designated in the offering plan; professional/business office allowed only with prior written consent (Sponsor during control period, Board thereafter) (By-Laws Section 5.7(B) (p.50))

Voting & meetings

Each Unit Owner entitled to one vote per Unit owned; Sponsor or designee votes for Unsold Units; cumulative voting allowed in Board elections (By-Laws Section 4.7(A) (p.40), Section 4)

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