Abstract: A convertible furniture assembly having a bed frame pivotally coupled to a frame assembly. The bed frame is pivotally moveable between an upright position and a lowered position. A counterbalance member is coupled to the bed frame and adapted for counterbalancing the bed frame during movement, thereby minimizing the size of a corresponding torsion system. The present invention further includes a hinge assembly capable of providing a spacing distance between the bed frame and a lower platform.