Case Studies · Brooklyn, NY

Co-op to Condo Conversion in Brooklyn, NY

Brooklyn is a smaller part of Hutton's New York footprint than Queens, but it's where we have one of our most-cited deals: 1543 West 1st Condominium, a 59-unit conversion closed in 2011 that got trade-press coverage from The Real Deal at the time.

Completed conversion

Units converted

$15M

Funding arranged

2011

Year closed

1543 West 1st Condominium residential property in Brooklyn, NY

Last reviewed: September 6, 2026

What did Hutton convert in Brooklyn?

1543 West 1st Condominium, 59 units, closed 2011. Values moved from roughly $160,000 to $250,000 per unit, with $15 million in funding arranged for the conversion. It's one of only two deals with a published, named testimonial on Hutton's site today: board member Roman Rozenberg.

Was this deal covered anywhere outside Hutton's own materials?

Yes. The Real Deal, the New York real estate trade publication, covered the conversion in a September 2011 piece published around the time of closing, independent third-party confirmation of a transaction Hutton didn’t write about itself.

What would a conversion look like for a Brooklyn co-op today?

The mechanics that closed 1543 West 1st still apply: a shareholder vote at the common two-thirds threshold, an offering plan, and a deed-by-deed closing once the vote clears. Building stock and co-op governance differ block by block across Brooklyn, but the process itself doesn't change by borough.

Why does one Brooklyn deal matter if Hutton has done so many elsewhere?

Because it's a real, closed, independently covered transaction. A board evaluating Hutton doesn't need us to have converted a building on their exact block. They need evidence we can take a conversion from shareholder vote to closed deed, with outside scrutiny attached. 1543 West 1st is that evidence for Brooklyn.

From the board

What the board said after closing

“We wanted to own our units with individual deeds. We knew The Hutton Group were the experts and they addressed every issue with detailed precision. Those who financed were able to secure low-rate Fannie Mae loans based on full condominium values that appraised at prices much higher than as co-ops.”

Roman Rozenberg, Board Member

1543 West 1st Condominium, Brooklyn

Documented case study

1543 West 1st Condominium

59-unit Brooklyn conversion

1543 West 1st Condominium

1543 West 1st Street, Brooklyn, New York

59 Units

Track record on this topic

1 completed Brooklyn conversion, 59 units, with published board testimonial and independent trade-press coverage. Jack Boyajian, Hutton’s President, oversaw this closing; he has led Hutton’s conversion practice since 1992 and has converted more than 7,500 units across his career. If you’re on a Brooklyn co-op board, a feasibility study is a no-cost way to find out where your building actually stands.

Find out where your Brooklyn building actually stands

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