Stratford House

“[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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The Stratford House

1999

Hackensack, New Jersey

Property Information

Location Hackensack, New Jersey
Number of Units 133
Year Converted to Co-op 1980
Year Converted to Condo 1999

Before Conversion as a Co-op

Out of 133 total units, The Stratford House only sold 4 units in the 12 months prior to conversion
The Stratford House was considered ineligible for competitive bank financing.
Suffered for years from slow sales and extremely low market values as compared to comparable condos.
After Conversion as a Condo
In the first year after conversion to condos, 24 units sold with rapid market absorption at The Stratford House.
Fannie Mae approval allows buyers to purchase with a down payment as low as 3% and at the best interest rates in the market.
Monthly carrying costs for most owners have gone down significantly in some cases by over $200 per month
Results From the Converstion of 109 Lefferts
Value as a Cooperative (40% Increase) $39,000
Add: Obligation (Fees & Closing Costs) $22,000
Total Investment $61,000
Condominium Values after Conversion $180,000
Net Increase in Wealth (Equity) $119,000