Glenview Condominiums

“[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
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Glenview Condominiums

2007

Los Angeles, California

Property Information

Location Los Angeles, California
Number of Units 45
Year Built 1960
2007

Before Conversion as a Co-op

Property was in an excellent location in a residential area of Los Angeles, CA but suffered from low values and limited sales activity.
As a co-op, some owners were unable to refinance or secure home equity loans since unit values remained low compared to the loan amount they needed.
There was virtually no reserve fund for future replacement of common areas.
After Conversion as a Condo
Immediately after the conversion was approved, units at the co-op sold for much more than previous asking prices and in a shorter time period. Values after conversion were even higher.
ROA Hutton and its Primary Lender arranged for Fannie Mae approval which provided competitive rates and terms for the conversion and beyond.
ROA Hutton helped to adopt modern condo governing documents which improved enforceability & the quality of life.
Results From the Converstion of 109 Lefferts
Value as a Cooperative (40% Increase) $140,000
Add: Obligation (Fees & Closing Costs) $6,500
Total Investment $146,500
Condominium Values after Conversion $220,000
Net Increase in Wealth (Equity) $74,000