FORT LEE, N.J. — A panel in Fort Lee will discuss the pros and cons of co-op to condominium conversions.
Co-op board members and their representatives can learn about how, why and where these conversions happened by attending a free meeting and panel discussion from 10 a.m. to noon Sat. Nov. 21 at the DoubleTree Hotel on Route 4 in Fort Lee.
“The truth is that with the team and the proper planning, converting from a co-op to a condominium can be affordable," said Jack Boyajian of the Hutton Group, a specialist in the conversion field. "(There's) a great benefit to unit owners in a co-op.”
The guest panelists and attendees will include team members of The Hutton Group, professionals in Fannie Mae and HUD approvals, the president and attorney of a recent co-op to condo conversion in the Bergen/Hudson county area and members of the real estate marketing community.
The presentation and discussions will focus the advantages and costs of converting a co-op to a condominium, the pitfalls to avoid and what to expect in increased unit values and financing options after conversion.
Park Hudson, now a 216-unit condominium in North Bergen that converted from a co-op in 2009, will have its co-op board president and attorney participate in the panel.
“This is a great opportunity to get free advice in an informal setting," Boyajian said. "The panel discussion will cover real issues about the conversion process and give those attending a chance to ask questions and get solid answers about converting to a condominium.”
All co-op board members and their representatives are invited to attend -- that includes committee members, managing agents, attorneys and accountants.
MORE INFO: (800) 672-0423 or www.huttonfirm.com/NJMeeting
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