The Frontenac 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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Cedarbrook Condominiums

2005

Hackensack, New Jersey

Property Information

Location Hackensack, New Jersey
Number of Units 75
The Frontenac Condominiums 1988
Year Converted to Condo 2005

Before Conversion as a Co-op

Units were extremely undervalued, selling at a third of comparable condominiums in the area.
The building desperately needed new windows and updated hallways but lacked the funds.
As a co-op, few lenders were willing to provide financing to new buyers at competitive terms.
After Conversion as a Condo
Immediately after conversion, units were selling at 3 to 4 times the price as a condo compared to a co-op.
Hutton raised $750,000 for new windows and hallway renovations through the conversion.
Hutton obtained Fannie Mae approval which opened the door to thousand’s of condo lenders.
Results From the Converstion of 109 Lefferts
Value as a Cooperative (40% Increase) $60,000
Add: Obligation (Fees & Closing Costs) $41,000
Total Investment $101,000
Condominium Values after Conversion $249,000
Net Increase in Wealth (Equity) $148,000