← 1278 E 187th St, Cleveland, OH 44110 · All properties
UPDATES.md
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| Property | 1278 E 187th St, Cleveland, OH 44110 |
|---|---|
| Folder | README & Property Snapshot |
| Kind | Text |
| Updated | 2026-07-16 |
| Dropbox path | 00 - README & Property Snapshot/UPDATES.md |
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## 2026-07-14
- Property Update (07/14/2026):
Hi everyone,
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
Financial data is shown as of 2026-06.
## Cash Flow Snapshot (2026-06)
Revenue: $855.00
Operating Expenses: -$1,846.94
NOI: -$991.94
Net Operating Cashflow: -$991.94
## Monthly Cash Position (2026-06)
Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.
Lofty Operating Cash: $588.43 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$1,205.83 (ECO Systems General Ledger Column E (60 rows))
## 2026-07-14
- Property Update (07/14/2026):
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
Financial data is shown as of 2026-06.
## Cash Flow Snapshot (2026-06)
Revenue: $855.00
Operating Expenses: -$1,846.94
NOI: -$991.94
Net Operating Cashflow: -$991.94
## Monthly Cash Position (2026-06)
Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.
Lofty Operating Cash: $588.43 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$1,205.83 (ECO Systems General Ledger Column E (60 rows))
Financial summary:
- Lofty-held current maintenance reserve: $588.43
- ECO GL Column E sum: $403.78 (60 rows)
- Property Update (07/14/2026):
Hi everyone,
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
Financial data is shown as of 2026-06.
## Cash Flow Snapshot (2026-06)
Revenue: $855.00
Operating Expenses: -$1,846.94
NOI: -$991.94
Net Operating Cashflow: -$991.94
## Monthly Cash Position (2026-06)
Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.
Lofty Operating Cash: $588.43 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$1,205.83 (ECO Systems General Ledger Column E (60 rows))
## 2026-07-14
- Property Update (07/14/2026):
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
Financial data is shown as of 2026-06.
## Cash Flow Snapshot (2026-06)
Revenue: $855.00
Operating Expenses: -$1,846.94
NOI: -$991.94
Net Operating Cashflow: -$991.94
## Monthly Cash Position (2026-06)
Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.
Lofty Operating Cash: $588.43 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$1,205.83 (ECO Systems General Ledger Column E (60 rows))
Financial summary:
- Lofty-held current maintenance reserve: $588.43
- ECO GL Column E sum: -$1,205.83 (60 rows)
- Property Update (07/14/2026):
Hi everyone,
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
Financial data is shown as of 2026-06.
## Cash Flow Snapshot (2026-06)
Revenue: $855.00
Operating Expenses: -$1,846.94
NOI: -$991.94
Net Operating Cashflow: -$991.94
## Monthly Cash Position (2026-06)
Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current complete DAO-attributed total of Column E across every row in the property-split ECO Systems GL, including accruals.
Lofty Operating Cash: $588.43 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$1,205.83 (ECO Systems General Ledger Column E (60 rows))
# Property Updates
## 2026-07-12
- Property Update (07/12/2026):
Hi everyone,
This month's update includes the current reviewed financial summary from the guarded monthly workflow.
Financial summary from FINANCIALS.md:
## Cash Flow Snapshot (2026-06)
| Metric | Amount |
|---|---:|
| Revenue | $0.00 |
| Operating Expenses | $0.00 |
| NOI | $0.00 |
| Net Operating Cashflow | $0.00 |
## Monthly Cash Position (2026-06)
Amounts are shown as of 2026-06. ECO Operating Cash is the complete DAO-attributed ECO Systems GL Column E balance through the as-of month, including accruals; it is not limited to ECO Systems LLC bank cash.
| Metric | Amount | Source |
|---|---:|---|
| Lofty Operating Cash | $588.43 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | -$1,745.63 | ECO Systems General Ledger Column E (56 rows) |
## Source Evidence
| Field | Value |
|---|---|
| Source month | 2026-06 |
| ECO GL source | `Public/07 - P&L & Owner Statements/ECO Systems General Ledger - 1278 E 187th St.csv` |
| Source-month dated rows | 0 |
| Revenue bucket count | 0 |
| Operating expense bucket count | 0 |
| ECO GL Column E rows | 56 |
| ECO GL Column E sum | -$1,745.63 |
Financial summary:
- Lofty-held current maintenance reserve: $588.43
- ECO GL Column E sum: -$1,745.63 (56 rows)
## 2026-07-02
- Property Update (07/02/2026):
This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.
Financial summary:
- Lofty-held current maintenance reserve: $451.76
- ECO GL Column E sum: $34.49 (54 rows)
## 2026-07-02
- Property Update (07/02/2026):
Hi everyone,
This month's update is limited to verified cash-position data from Lofty and ECO records. No tenant ledger rows are included.
Financial summary:
- Lofty-held current maintenance reserve: $451.76
- ECO GL Column E sum: $34.49 (54 rows)
## 2026-06-27
- Property Update (06/27/2026):
Hi everyone,
Quick update on **1278 E 187th St, Cleveland, OH 44110**:
- We are issuing a proactive owner communication to keep update cadence consistent.
- Property operations and file review are in progress.
- A fuller operational/financial update will follow after manager file reconciliation.
**What to expect next**
- Current operations snapshot
- Any material leasing/maintenance/compliance items
- Financial/reconciliation notes (if applicable)
- Next expected update timing
Financial summary:
- Lofty-held current maintenance reserve: $451.76
- ECO GL Column E sum: $34.49 (54 rows)
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $0.00 |
| Lofty Operating Cash | $-2,239.86 |
| ECO Operating Cash | $580.75 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-19.03 |
| Estimated Owners' Equity | $95,039.00 |
| DAO Estimated NAV Per Token | $55.34 |
| DAO Tokens | 1717 |
| Current PM | ECO |
## 2026-06-27
- Property Update (06/27/2026):
Financial summary:
- Lofty-held current maintenance reserve: $451.76
- ECO GL Column E sum: $34.49 (54 rows)
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $0.00 |
| Lofty Operating Cash | $-2,239.86 |
| ECO Operating Cash | $580.75 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-19.03 |
| Estimated Owners' Equity | $95,039.00 |
| DAO Estimated NAV Per Token | $55.34 |
| DAO Tokens | 1717 |
| Current PM | ECO |
## 2026-04-06
- Property Update (04/06/2026):
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
| Field | Value |
|-------|-------|
| Yhome Net Due TO DAO | $0.00 |
| Lofty Operating Cash | $-2,239.86 |
| ECO Operating Cash | $580.75 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-19.03 |
| Estimated Owners' Equity | $95,039.00 |
| DAO Estimated NAV Per Token | $55.34 |
| DAO Tokens | 1717 |
| Current PM | ECO |
## 2026-01-06
- Property Update (01/06/2026):
- This property received an insurance refund check of $574.32, which will be added to its Operating Reserve.
## 2025-07-14
- Property Update (07/14/2025):
- The owner-elected Property Manager, ECO Systems LLC, has provided the following update:
- Unpaid Taxes: $1,842.94
- Insurance Paid out of OR
- Latest OR Balance Update: $1,701.34 as of 5/31/25
- DAO Net Cash: Unclear
- Tenant Status: Unknown
- Financial Status: Unknown
- The previous PM, Yhome Nursing LLC, has not yet provided any information regarding this property. It was never previously under Aligned as anticipated.
- Full transaction history has been requested from both Evernest and Yhome.
## 2025-05-05
- Property Update (05/05/2025):
- Governance Results for 1278 E 187th St:
- The Governance Voting results are back for the owner-proposed vote to change property managers.
- The winning vote is:
- Vote to change to ECO Systems property management and NOT give away 3.5% equity to Yhome.
- This option received 442 / 442 token votes, which is equal to 100% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/2974584600) or by searching the application ID: 2974584600
## 2025-04-30
- Property Update (04/30/2025):
- *Owner-Proposed Governance Vote:*
- An Owner with the following [wallet address](https://allo.info/account/PJHK74F24OLHGOLQM5FRUKKWNOVURMSCABBMDOTWCAW3ZPTL6CSJRUFKA4) is proposing a governance vote.
- This owner holds 125 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- Short story:
- Please vote now to switch to ECO Systems, a proven property manager and AVOID an immediate dilutive equity giveaway to our current property manager (Yhome).
- Longer story:
- If we take no action in the next three weeks, our current property manager (Yhome) will be granted an immediate 3.5% dilutive equity stake in this DAO, worth over $8,500. This giveaway is a consequence of Yhome's unilateral change of contract terms, which we (possibly inadvertently) voted to approve in the vote earlier this month, in a confusing vote in which we had no clear option to refuse, and were presented with a menu of terrible options.
- Although I think in some rare cases, equity stakes can be an effective way to align a property manager's incentives with co-owners, I strongly object to one that vests immediately and which the manager can keep even if they decide to stop managing our property right after the grant, or even if they perform poorly. Yhome was asked to agree to a vesting schedule and refused, which is a red flag that they do not have our long-term interests in mind.
- I urge you to vote against this by transitioning management of 3139 West Blvd to ECO Systems, effective May 15th. ECO Systems’ owner has been a dedicated and loyal member of Lofty for the past four years, consistently demonstrating his ability to manage some of the platform’s best-performing properties, in terms of both income and appreciation (e.g., 86, 88 and 90 Madison Ave).
- ECO Systems is an active participant on Lofty and in the Lofty Discord (@earlvanze), offering consistent communication and being readily available to answer any questions from investors, unlike Yhome. ECO Systems’ management fees are 10% of gross rent, first month rent to place a tenant. No fees for re-lease and no maintenance upcharge.
- Option 1: Vote to change to ECO Systems property management and NOT give away 3.5% equity to Yhome.
- Option 2: Vote to retain Yhome as property manager, giving them an immediate 3.5% dilutive equity g