Royal Palms

“[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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Royal Palms

2015

Los Angeles, California

Property Information

Location Los Angeles, California
Number of Units 162
Year Converted to Condo 2015

Before Conversion as a Co-op

The community had been attempting to convert to a condominium for six (6) years with another consultant that had collected fees without providing the services needed to complete the conversion to condos.
Unit values as co-ops were low compared to similar condos in the neighborhood. Prices did not recover enough to return to pre-recession levels.
There were only a few lenders that were willing to provide loans for co-op units .
After Conversion as a Condo
Hutton restructured the conversion plan, had all new governing documents drafted and approved by the membership and delivered condo unit deeds in less than 8 months from contract date.
After conversion, unit values as condominiums increased substantially over co-op selling prices a few months before. Owners are selling units to occupants instead of being forced to rent.
Hutton obtained Fannie Mae project approval which provides all units with unlimited lenders offer the best rates and terms.
Results From the Converstion of 109 Lefferts
Value as a Cooperative (40% Increase) $225,000
Add: Obligation (Fees & Closing Costs)
Total Investment
Condominium Values after Conversion $330,000
Net Increase in Wealth (Equity) $105,000