← 86 Madison Ave, Albany, NY 12202 · All properties
UPDATES.md

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Property	86 Madison Ave, Albany, NY 12202
Folder	README & Property Snapshot
Kind	Text
Updated	2026-07-16
Dropbox path	`00 - README & Property Snapshot/UPDATES.md`
What This File Appears To Be

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: $4,969.72 Operating Expenses: -$4,568.26 NOI: $401.46 Net Operating Cashflow: $127.60 ## Monthly Cash Position (2026-06) Revenue and operating expenses are scoped to the reporting month. ECO Operating Cash is the current
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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: $4,969.72
Operating Expenses: -$4,568.26
NOI: $401.46
Net Operating Cashflow: $127.60

## 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: $1,585.05 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$20,252.94 (ECO Systems General Ledger Column E (971 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: $4,969.72
Operating Expenses: -$4,568.26
NOI: $401.46
Net Operating Cashflow: $127.60

## 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: $1,585.05 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$20,252.94 (ECO Systems General Ledger Column E (971 rows))

Financial summary:
- Lofty-held current maintenance reserve: $1,585.05
- ECO GL Column E sum: $92.44 (998 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: $4,969.72
Operating Expenses: -$4,568.26
NOI: $401.46
Net Operating Cashflow: $127.60

## 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: $1,585.05 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$20,252.94 (ECO Systems General Ledger Column E (971 rows))

<!-- NY_HI_ACCRUAL_RECONCILIATION_START -->
## Accrual Funding Reconciliation (2026-07-15)

The ECO GL begins `2024-11-01`, the first day of the month before the first token sale on `2024-12-06`. Earlier rows are excluded from this DAO's GL.

- ECO GL Column E accounting position: **$92.44**.
- Open accrual requirement: **$20,245.23** (escrow reserve $10,045.56, legal dao payable $750.00, pm payable $9,449.67).
- Other accounts payable / receivable: **$1,411.79 AP** and **$3,249.43 AR**.
- Live unrestricted DAO bank cash: **$2,725.85**.
- Restricted cash excluded from ordinary funding: **$0.00**.
- Bank funding gap after net AR/AP: **$15,681.74 underfunded**; surplus **$0.00**.
- 2026 retained-capital model: retained $0.00; ECO principal/interest debt $8,769.59.

Column E is the accounting/CF-close position, not current bank cash. Month-end reset and capital-close rows remain in Column E but are non-cash and are excluded from every inter-DAO transfer and bank-underfunding calculation. A positive Column E balance therefore does not by itself mean the bank has enough cash to pay open accruals.

Current net cash schedule affecting this DAO:
  - Pay ECO Systems LLC: $7,596.43 (funding required before full transfer)
  - Pay Heron LFTY0314 DAO LLC: $1,356.00 (funding required before full transfer)
  - Receive from Strawberry LFTY402 DAO LLC: $431.91
  - Receive from Earl Co (personal Chase checking ...0000): $214.28
  - Pay Lychee LFTY0431 DAO LLC: $55.79 (funding required before full transfer)

Taxes, insurance, and escrow accruals are reserve requirements rather than immediate external payment instructions. Transfers marked funding required should not be executed in full until the incoming reimbursements, reserve top-up, or approved financing is available.
<!-- NY_HI_ACCRUAL_RECONCILIATION_END -->
## 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: $4,969.72
Operating Expenses: -$4,568.26
NOI: $401.46
Net Operating Cashflow: $127.60

## 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: $1,585.05 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$20,252.94 (ECO Systems General Ledger Column E (971 rows))

Financial summary:
- Lofty-held current maintenance reserve: $1,585.05
- ECO GL Column E sum: $92.44 (996 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: $4,969.72
Operating Expenses: -$4,568.26
NOI: $401.46
Net Operating Cashflow: $127.60

## 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: $1,585.05 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$20,252.94 (ECO Systems General Ledger Column E (971 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 | $1,585.05 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | -$13,437.88 | ECO Systems General Ledger Column E (944 rows) |

## Source Evidence

| Field | Value |
|---|---|
| Source month | 2026-06 |
| ECO GL source | `[local-path]/Users/digit/Dropbox/Real Estate/NY/86 Madison Ave Public/07 - P&L & Owner Statements/ECO Systems General Ledger - 86 Madison Ave.csv` |
| Source-month dated rows | 0 |
| Revenue bucket count | 0 |
| Operating expense bucket count | 0 |
| ECO GL Column E rows | 944 |
| ECO GL Column E sum | -$13,437.88 |

Financial summary:
- Lofty-held current maintenance reserve: $1,585.05
- ECO GL Column E sum: -$13,437.88 (944 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: $1,568.87
- ECO GL Column E sum: -$13,683.08 (948 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: $1,568.87
- ECO GL Column E sum: -$13,683.08 (948 rows)

## 2026-05-19

- Property Update (05/19/2026):
- Governance Results for 86 Madison Ave:
    - The governance results are back for the owner-proposed governance vote.
    - The winning vote is:
    - Heck yeah, let's get the balance back to zero.
    - This was voted on by 24 participants in total. Out of the total number of participants, 22 voted for the winning vote, totaling 98.85% of the voting power. This is a co-ownership property, which means the governance mechanism used the scaled governance calculations as opposed to the default of 1 token equals 1 vote.
    - The voting results can be found on chain [here](https://allo.info/application/3564621976) or by searching the application ID: 3564621976

## 2026-05-14

- Property Update (05/14/2026):
- Owner-Proposed Governance Vote for 86 Madison Ave:
    - An owner with the following [wallet address](https://allo.info/account/NZIW2RCGWRQRYUTQXB5PESZGPSGDJWKHNMEMC5HS6B7XD5QVVNDCSB3BRQ) is proposing a governance vote.
    - This owner holds 580 shares in this property.
    - The owner's proposal 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.
    - Hey everyone,
    - As we all know, our shared shed is the unsung hero of our operations. It sits there quietly, housing the fluffiest members of our teams (the towels), and asking for very little in return.
    - However, we’ve hit a bit of a "laundry snag" in the accounting department. Currently, we have a neighbor who has opted for the $50-a-month "Subscription Plan" rather than the full buy-in, and there’s a recent motion to drop that to $10 or drop it entirely.
    - Now, I’m all for a bargain—I once bought a "genuine" Rolex for $15 in a basement—but at $10 a month, it would take roughly 80 months to settle the remaining $800 balance. By the time that’s paid off, we’ll probably be hosting guests on Mars and towels will be obsolete light-beams. Plus, we’ve still got that $100 gap from January and February usage that needs to find its way home!
    - The "Get Us Back to Even" Proposal
    - To keep things fair for everyone who chipped in upfront and to ensure the shed stays standing (and not depressed), I am proposing the following Shed-emption Plan:
    - The Interim Rate: $250 / month.
    - The Goal: To chip away at that $800 balance (and the missing $100 from Jan/Feb) like a professional sculptor.
    - The Aftermath: Once the $800 is fully recouped, the rate officially drops to a breezy $25 a month for ongoing maintenance.
    - The Timeline: We get the big numbers out of the way in just a few months so we can all stop playing "Debt Detective."
    - Why vote "YES"?
    - Speed: We get the books balanced before the next decade.
    - The "Light at the Tunnel": Everyone wins with a clear path to that low $25 permanent rate.
    - Fairness: It respects the investment the rest of us made to keep the linens living in luxury.
    - Karma: Every time a guest raves about a clean towel, a shed gets its wings.
    - I’d love to get this settled so we can get back to what really matters: obsessively checking our 5-star reviews and wondering why that one guest complained about the "vibe" of the toaster.
    - Cast your votes below!
    -  "Heck yeah, let's get the balance back to zero."
    -  "I prefer the 80-month slow burn."
    - The results will be determined by a 60% Supermajority and will be sent to all owners on Tuesday, May 19th once the voting period ends.

## 2025-11-18

- Property Update (11/18/2025):
- Fellow co-owners,

- The current mortgage balance is $152,534.60 as of Nov. 5, 2025. Per the terms of the original [“Subject-to” Addendum to the Real Estate Purchase Agreement](https://www.dropbox.com/scl/fi/pj8lk3fn3ao1lq76ieer1/Purchase-Agreement-86-Madison-Ave-Albany-NY-12202.pdf?rlkey=2w3s832s9oenoj10m4kajcp1u&dl=0) that enabled the DAO LLC to purchase this property from Boney Enterprises LLC, "At Seller’s request, Buyer shall be required to pay off or refinance the remaining balance on the Existing Loan by December 1, 2025. This is extendable on an annual basis with the appr