Case Study: Harbor Towers R e s u l t s from Conversion of Harbor Towers One Bedroom Two Bedroom Value as a Co-op $35,000.00 $60,000.00 Add: Conversion Obligation (Including underlying mortgage, fees & costs) $14,000.00 $18,000.00 Total Investment $49,000.00 $78,000.00 Condominium Values after Conversion $167,000.00 $245,000.00 Net Increase in Wealth (Equity) $118,000.00 $167,000.00 “I am very proud of ROA Hutton for the hard work that they did in con- verting Harbor Towers to a condominium. This was a very difficult con- version because we only had a 15% owner-occupancy ratio at the time. Now we have plenty of bank financing and market values have risen tre- mendously. We also raised the extra money necessary to replace our win- dows and to repair the elevator system. Thank

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