Owners of many cooperative complexes have made the decision to convert to condominiums. The decision whether to convert depends on a number of factors that are unique to each community. Many cooperative complexes are aging and facing renovations or inadequate repair reserves. Cooperatives have not been able to keep pace with the selling prices of comparable condominiums in the same market. For many cooperative complexes, conversion proves to be a viable option to increase the value of the units, build equity and generate funds to undertake needed repairs.

Condo Conversions LLC, was formed to guide cooperatives through the conversion process. The company was founded by property managers and community association attorneys with over seventy-five-years of collective experience in managing the affairs of community associations. Condo Conversions LLC manages the conversion from shareholder approval, underlying mortgage resolution, tax treatment and coordination of individual closings.

We understand the issues that are involved in the conversion. We welcome the opportunity to present a feasibility study to the Board free of charge to help determine whether conversion is right for your community.