808 Laurel

“[They] really did save our community…we never could have accomplished conversion without Hutton […]"

Patty Urban

Geddes Lake (422 units)
Ann Arbor, MI
“The Hutton Group are true experts in their field…[They] saved my investment from sheer disaster and turned it into a goldmine […]"

Alan Antaki

Woodedge (81 units)
Edison, NJ
“[The Hutton Group] covered, with great success, our financial needs, our legal problems with some dissenters, and led us to a painless conversion […]"

Jose Perewozki

Laguna Lido (48 units)
Laguna Beach, CA
"We wanted to own our units with individual deeds and knew Hutton were the experts...they addressed every issue with detailed precision."

Roman Rozenberg

1543 W 1st St
Brooklyn, NY
Keep scrolling to learn more

808 Laurel

2015

San Mateo, CA

Property Information

Location San Mateo, CA
Number of Units 36
2015

Before Conversion as a Co-op

The Co-op was searching for a way to convert to condominium for some time but was hindered by municipal and state objections and legal issues.
While prices for condos were rising rapidly in the hot tech market, co-op unit values in the building remained severely depressed.
As a co-op, financing options were limited to a few banks willing to finance co-ops.
After Conversion as a Condo
Hutton addressed all issues and converted all units to condos without any need to change common elements (i.e. parking, access, etc.) and obtained state BRE approval (public report).
After conversion, unit values immediately increased by as much as 70% to 100%. Units were on the market for a very short time before being sold above asking.
The new condo is Fannie Mae approved so new and existing owners can get the best terms from virtually any lender.
Results From the Converstion of 109 Lefferts
Value as a Cooperative (40% Increase) $370,000
Add: Obligation (Fees & Closing Costs)
Total Investment
Condominium Values after Conversion $680,000
Net Increase in Wealth (Equity) $310,000