The Co-op to Condo Conversion Specialists™

The Frontenac Condominiums

 Cedarbrook Condominiums
Date Converted
 Converted 2005
New Jersey

Property Information

Location Hackensack, New Jersey
Number of Units 75
Year Converted to Co-op 1988
Year Converted to Condo 2005

  1. Units were extremely undervalued, selling at a third of comparable condominiums in the area.
  2. The building desperately needed new windows and updated hallways but lacked the funds.
  3. As a co-op, few lenders were willing to provide financing to new buyers at competitive terms.

  1. Immediately after conversion, units were selling at 3 to 4 times the price as a condo compared to a co-op.
  2. Hutton raised $750,000 for new windows and hallway renovations through the conversion.
  3. Hutton obtained Fannie Mae approval which opened the door to thousand’s of condo lenders.

What Owners Say About Their Conversion

“The positive results of the conversion are simply undeniable. Our units have increased in value by over 200% overnight. One unit was sold to an owner occupant for three (3) times the co-op price paid only a year prior. Our new association is now Fannie Mae approved with unlimited lenders offering attractive programs and lower interest rates. ROA Hutton guided us through the entire process and put us on a solid footing with updated governing documents, a realistic operating budget and a new replacement reserve study. Your no-risk, no-upfront-fee program is reason enough to let shareholders decide for themselves as to the benefits and costs of a co-op to condo conversion.”

Peter Hanson
Peter Hanson
Board President

“You had all the facts and research at your fingertips, and as a realtor, I was familiar with other buildings in Hackensack that you successfully converted. Once the Board approved the proposal and hired your company to represent us in this conversion, it was a whirlwind meetings, discussions, and phone calls. What does amaze me is that ROA Hutton completed our conversion in approx 6 months... I commend everyone involved in this conversion for your patience, professionalism, and your turn around time to get this conversion completed—you “jumped through hoops” to assist everyone. Many thanks for all your fine work in making the Frontenac conversion a reality.”

Ann Santee
Ann Santee
Board Member & Realtor

Results from the Conversion of Frontenac

Value as a Cooperative


Add: Conversion Obligation (No underlying mortgage existed; fees & closing costs only)


Total Investment


Condominium Values after Conversion


Net Increase in Wealth (Equity)


PDF of Case Study: Frontenac Case Study