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Governance Proposal to Sell Property - 13806 Coit Rd, Cleveland, OH 44110.docx

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Description

Governance Proposal to Sell Property Property: 13806 Coit Rd, Cleveland, OH 44110 DAO Entity: Lofty Holding 13806 Coit Rd DAO LLC 1. Summary of Offer • Buyer: Pouya Nazarian (59th Street LLC / Lofty Holding 13806 Coit Road DAO LLC) • Purchase Price: $94,400 • Terms: As-is condition, contingent on a video walkthrough by a Magno Group agent • Closing: On or about October 14, 2025, with Golden Eagle Title as escrow agent • Earnest Money: $1,000 deposited in escrow • Inspection: Buyer retains inspec

Extracted Content

Governance Proposal to Sell Property Property: 13806 Coit Rd, Cleveland, OH 44110 DAO Entity: Lofty Holding 13806 Coit Rd DAO LLC 1. Summary of Offer • Buyer: Pouya Nazarian (59th Street LLC / Lofty Holding 13806 Coit Road DAO LLC) • Purchase Price: $94,400 • Terms: As-is condition, contingent on a video walkthrough by a Magno Group agent • Closing: On or about October 14, 2025, with Golden Eagle Title as escrow agent • Earnest Money: $1,000 deposited in escrow • Inspection: Buyer retains inspection rights but is waiving repairs beyond latent defects 2. Inspection Findings Summary • Exterior: Broken/missing downspouts, water drainage issues, driveway deterioration, cracked/missing slabs, rotted porch, peeling paint, cracked mortar, shiplap siding with pest damage, balcony creaking. • Roof/Attic: Old shingles with granule loss, unsafe access, wiring hazards in attic (not recessed/bored through joists). • Windows/Doors: Many painted shut, broken locks, missing hardware, rear stair entry with no lock. • Plumbing: Water meter broken; mix of CPVC, PEX, and copper; brass fittings prone to corrosion; boiler vent pitched incorrectly (CO hazard). • HVAC: Furnace open-paneled, missing parts,