New York Statutes

§ 339-I — Common elements

New York·Law RPP Real Property·Art. 9-B Condominium Act

§ 339-i. Common elements.

1.Each unit shall have appurtenant thereto\na common interest as expressed in the declaration. Such interest shall\nbe (i) in the approximate proportion that the fair value of the unit at\nthe date of the declaration bears to the then aggregate fair value of\nall the units or (ii) in the approximate proportion that the floor area\nof the unit at the date of the declaration bears to the then aggregate\nfloor area of all the units, but such proportion shall reflect the\nsubstantially exclusive advantages enjoyed by one or more but not all\nunits in a part or parts of the common elements or (iii) the interest of\neach of the units shall be in equal percentages, one for each unit as of\nthe date of filing the declaration, or in equal percentages within\nseparate cl

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