← 614 E 97th St, Cleveland, Ohio 44108 · All properties
UPDATES.md

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Property	614 E 97th St, Cleveland, Ohio 44108
Folder	README & Property Snapshot
Kind	Text
Updated	2026-07-11
Dropbox path	`00 - README & Property Snapshot/UPDATES.md`
What This File Appears To Be

Property Updates ## 2026-04-13 - Property Update (04/13/2026): - We are actively monitoring sale/disposition-related file activity for this property. - Transaction and documentation review is in progress. - A follow-up owner update will be sent with any material changes to status, timeline, or economics. - Confirmed transaction stage - Any owner actions required - Reconciliation/distribution notes if closing occurs ## 2026-04-06 - Property Update (04/06/2026): - Yhome Transition Reconciliation
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# Property Updates

## 2026-04-13

- Property Update (04/13/2026):
- We are actively monitoring sale/disposition-related file activity for this property.
- Transaction and documentation review is in progress.
- A follow-up owner update will be sent with any material changes to status, timeline, or economics.
- Confirmed transaction stage
- Any owner actions required
- Reconciliation/distribution notes if closing occurs

## 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 | $-5,103.03 |
| Lofty Operating Cash | $67,980.53 |
| ECO Operating Cash | $-230.29 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $62,877.50 |
| Estimated Owners' Equity | $0.00 |
| DAO Estimated NAV Per Token | $23.96 |
| DAO Tokens | 2624 |
| Current PM | ECO (Sold) |

**Property Updates**

## 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 | $-5,103.03 |
    | Lofty Operating Cash | $67,980.53 |
    | ECO Operating Cash | $-230.29 |
    | Outstanding Liabilities (Unpaid Bills) | $0.00 |
    | DAO Net Cash (Capital Call) | $62,877.50 |
    | Estimated Owners' Equity | $0.00 |
    | DAO Estimated NAV Per Token | $23.96 |
    | DAO Tokens | 2624 |
    | Current PM | ECO (Sold) |

## 2026-04-05

- Property Update (04/05/2026):
- Cross-check against `Yhome Transition Reconciliation.xlsx` shows 614 E 97th St, Cleveland, OH 44108 flagged as **ECO (Sold)**.
    - Current reconciliation status: **DAO owes Yhome and Aligned**.
    - Public DESCRIPTION.md and DETAILS.md refreshed to reflect sold status.

## 2026-04-05

- Property Update (04/05/2026):
- Cross-check against `Yhome Transition Reconciliation.xlsx` shows 614 E 97th St, Cleveland, OH 44108 flagged as **ECO (Sold)**.
- Current reconciliation status: **DAO owes Yhome and Aligned**.
- Public DESCRIPTION.md and DETAILS.md refreshed to reflect sold status.

## 2026-02-11

- Property Update (02/11/2026):
- The property sold and closed on Feb. 4, 2026. Lofty holds the DAO Net Cash, and accounts are being balanced for final redemption.
- Financial Summary as of 2/11/26:
- Net Sale Proceeds: $82,308.79
- Due to Yhome: ($5,103.03)
- PAID to Lofty OR: ($951.10)
- PAID to ULD as of 2/5/26: ($13,177.16)
- Due to ECO Systems: ($10,708.64)
- Final Tax Return: ($200)
- DAO Net Cash: $52,168.86
- Redemption: $19.88/share
- [Closing Package](https://www.dropbox.com/scl/fi/3jvy8cb0w31xbe6k3phmx/Seller-Closing-Package-614-E-97th-St-Cleveland-OH-44108.pdf?rlkey=tq3w0v5nqpyq3b4jw2oz5vb3j&dl=0)
- [Aligned Final Statement](https://www.dropbox.com/scl/fi/xnsabkruvsczfx4ysgc01/Owner-Statement-owner_statement_enhanced_report-290-Please-Remit-Balance-Due-1-438.94-614-E-97-614-E-97th-St.-Cleveland-OH-44108.pdf?rlkey=dyw5gku1pvfxeuxflz36ddz6e&dl=0)
- [ECO Systems General Ledger](https://www.dropbox.com/scl/fi/owoyu9m3war1kn7yxxwpt/ECO-Systems-General-Ledger-2026-02-11-614-E-97th-St-Cleveland-OH-44108.csv?rlkey=ksic4n4kqn7so6fpk7lifcice&dl=0)

## 2026-02-11

- Property Update (02/11/2026):
- The property sold and closed on Feb. 4, 2026. Lofty holds the DAO Net Cash, and accounts are being balanced for final redemption.
    - Financial Summary as of 2/11/26:
    - Net Sale Proceeds: $82,308.79
    - Due to Yhome: ($5,103.03)
    - PAID to Lofty OR: ($951.10)
    - PAID to ULD as of 2/5/26: ($13,177.16)
    - Due to ECO Systems: ($10,708.64)
    - Final Tax Return: ($200)
    - DAO Net Cash: $52,168.86
    - Redemption: $19.88/share
    - [Closing Package](https://www.dropbox.com/scl/fi/3jvy8cb0w31xbe6k3phmx/Seller-Closing-Package-614-E-97th-St-Cleveland-OH-44108.pdf?rlkey=tq3w0v5nqpyq3b4jw2oz5vb3j&dl=0)
    - [Aligned Final Statement](https://www.dropbox.com/scl/fi/xnsabkruvsczfx4ysgc01/Owner-Statement-owner_statement_enhanced_report-290-Please-Remit-Balance-Due-1-438.94-614-E-97-614-E-97th-St.-Cleveland-OH-44108.pdf?rlkey=dyw5gku1pvfxeuxflz36ddz6e&dl=0)
    - [ECO Systems General Ledger](https://www.dropbox.com/scl/fi/owoyu9m3war1kn7yxxwpt/ECO-Systems-General-Ledger-2026-02-11-614-E-97th-St-Cleveland-OH-44108.csv?rlkey=ksic4n4kqn7so6fpk7lifcice&dl=0)

## 2026-01-21

- Property Update (01/21/2026):
- Quick update: The lender still hasn’t received clear to close from title. Title is just waiting on the Cleveland Disclosure.
- We’ll keep you posted as soon as we have new updates, likely by tomorrow.

## 2026-01-21

- Property Update (01/21/2026):
- Quick update: The lender still hasn't received clear to close from title. Title is just waiting on the Cleveland Disclosure.
    - We'll keep you posted as soon as we have new updates, likely by tomorrow.

## 2025-12-09

- Property Update (12/09/2025):
- Our realtor countered the $85,770 offer (DSCR loan) with a $2k seller credit and got us up to [$97k w/ $2k seller credit](https://www.dropbox.com/scl/fi/gkv14rszd9y7626pxsvxi/Purchase-Offer-97k-614-E-97th-St-Cleveland-OH-44108.pdf?rlkey=txk8hattfmkqoqhmq974j8ln3&dl=0), close by 1/6/26.
    - Estimated NAV $23.92 net of debts, subject to complete settlement and accounting. Earl has approved the offer.

## 2025-12-09

- Property Update (12/09/2025):
- Our realtor countered the $85,770 offer (DSCR loan) with a $2k seller credit and got us up to [$97k w/ $2k seller credit](https://www.dropbox.com/scl/fi/gkv14rszd9y7626pxsvxi/Purchase-Offer-97k-614-E-97th-St-Cleveland-OH-44108.pdf?rlkey=txk8hattfmkqoqhmq974j8ln3&dl=0), close by 1/6/26.
- Estimated NAV $23.92 net of debts, subject to complete settlement and accounting. Earl has approved the offer.

## 2025-12-02

- Property Update (12/02/2025):
- Governance Results for 614 E 97th St:
    - The Governance Voting results are back for the owner-proposed votes.
    - The winning vote is:
    - [redacted]
    - This option was declared the winner in Round 1 with 843 token votes.
    - The voting results can be found on chain [here](https://allo.info/application/3350361274) or by searching the application ID: 3350361274
    - The winning vote is:
    - Authorize Earl Vanze Co to sign closing documents as Authorized Member on behalf of the DAO, settle all debts, and send net proceeds to Lofty for distribution via token redemption.
    - This voting option received 1,064 / 1,064 token votes which is equal to 100% of the
    - The voting results can be found on chain [here](https://allo.info/application/3350365123) or by searching the application ID: 3350365123

## 2025-12-02

- Property Update (12/02/2025):
- Governance Results for 614 E 97th St:
- The Governance Voting results are back for the owner-proposed votes.
- The winning vote is:
- [redacted]
- This option was declared the winner in Round 1 with 843 token votes.
- The voting results can be found on chain [here](https://allo.info/application/3350361274) or by searching the application ID: 3350361274
- The winning vote is:
- Authorize Earl Vanze Co to sign closing documents as Authorized Member on behalf of the DAO, settle all debts, and send net proceeds to Lofty for distribution via token redemption.
- This voting option received 1,064 / 1,064 token votes which is equal to 100% of the
- The voting results can be found on chain [here](https://allo.info/application/3350365123) or by searching the application ID: 3350365123

## 2025-11-26

- Property Update (11/26/2025):
- We have received an offer of $85,770 (DSCR loan) with a $2k seller credit, netting $83,770 before closing costs, commissions, and unpaid debt. Close by Dec. 23rd.
- Buyer has viewed the exterior, basement, and vacant 2nd floor and is waiving inspections, but offer is contingent on a walkthrough of the occupied first floor.
- Financial Summary (subject to change):
- Due to Cuyahoga County for Delinquent Taxes: ($2,765.53)
- Due to Obie Insurance: ($462.00)
- Due to ULD: ($12,699.43)
- Due to Lofty: ($951.10)
- Due to Yhome: ($5,103.03) (withheld, pending settlement)
- Due to ECO Systems: ($7,781.39)
- Total Debts: ($29,762.48)
- Sale proceeds: +$77,906 (Assuming 7% in closing costs)
- Net to owners: $48,143.52
- Estimated Net Asset Value Per Share: ~$18.347

- Owners may now vote by 11/27/2025 at 5 PM EST.
- Vote 1:
- Accept the offer
- Decline the offer and authorize Earl Vanze Co to negotiate offers above $85k
- Decline the offer (requires an immediate $17k capital call via subsequent vote)
- Vote 2:
- Authorize Earl Vanze Co to sign closing documents as Authorized Member on behalf of the DAO, settle all debts, and send net proceeds to Lofty for distribution via token redemption.
- Do not authorize Earl Vanze Co to negotiate and sign closing documents, requiring a 24-hour DAO vote for every major decision.
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, November 25th, once the voting period ends.

## 2025-11-26

- Property Update (11/26/2025):
- We have received an offer of $85,770 (DSCR loan) with a $2k seller credit, netting $83,770 before closing costs, commissions, and unpaid debt. Close by Dec. 23rd.
    - Buyer has viewed the exterior, basement, and vacant 2nd floor and is waiving inspections, but offer is contingent on a walkthrough of the occupied first floor.
    - Financial Summary (subject to change):
    - Due to Cuyahoga County for Delinquent Taxes: ($2,765.53)
    - Due to Obie Insurance: ($462.00)
    - Due to ULD: ($12,699.43)
    - Due to Lofty: ($951.10)
    - Due to Yhome: ($5,103.03) (withheld, pending settlement)
    - Due to ECO Systems: ($7,781.39)
    - Total Debts: ($29,762.48)
    - Sale proceeds: +$77,906 (Assuming 7% in closing costs)
    - Net to owners: $48,143.52
    - Estimated Net Asset Value Per Share: ~$18.347

    - Owners may now vote by 11/27/2025 at 5 PM EST.
    - Vote 1:
    - Accept the offer
    - Decline the offer and authorize Earl Vanze Co to negotiate offers above $85k
    - Decline the offer (requires an immediate $17k capital call via subsequent vote)
    - Vote 2:
    - Authorize Earl Vanze Co to sign closing documents as Authorized Member on behalf of the DAO, settle all debts, and send net proceeds to Lofty for distribution via token redemption.
    - Do not authorize Earl Vanze Co to negotiate and sign closing documents, requiring a 24-hour DAO vote for every major decision.
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, November 25th, once the voting period ends.

## 2025-06-17

- Property Update (06/17/2025):
- Governance Results for 614 E 97th St:
    - The Governance Voting results are back for the owner-proposed vote.
    - The leading vote is:
    - List property for sale at $125k
    - This option received 351 / 641 token votes, which is equal to 54% of the total votes.
    - The voting results can be found on chain [here](https://allo.info/application/3079722274) or by searching the application ID: 3079722274
    - This vote will not pass because it did not reach a Supermajority of 60%+.

## 2025-06-17

- Property Update (06/17/2025):
- Governance Results for 614 E 97th St:
- The Governance Voting results are back for the owner-proposed vote.
- The leading vote is:
- List property for sale at $125k
- This option received 351 / 641 token votes, which is equal to 54% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3079722274) or by searching the application ID: 3079722274
- This vote will not pass because it did not reach a Supermajority of 60%+.

## 2025-06-13

- Property Update (06/13/2025):
- Owner-Proposed Governance Vote for 614 E 97th St:
    - An Owner with the following [wallet address](https://allo.info/account/QDTN5SITNPO4AMXPTOAFJDE2NSOHGKQE4LUHD2MUEWBJKHEPAHYEYBO6VM) is proposing a governance vote.
    - Th