Case Study: Cedarbrook One Bedroom Two Bedroom Value as a Co-op $31,500.00 $55,000.00 Add: Conversion Obligation (Including un- derlying mortgage, fees & costs) $31,000.00 $40,000.00 Total Investment $62,500.00 $95,000.00 Net Increase in Wealth (Equity) $85,500.00 $85,000.00 Results from Conversion of Cedarbrook to Condominium Condominium Values after Conversion $148,900.00 $180,500.00 “I for one was skeptical of the entire process of converting from Co-op to Condo, questioning and mostly fighting against every detail—especially the costs involved to share- holders who already were stretched to the very limit. How- ever, I’ll be the first to say that converting to Condo was a hug

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