← 88 Madison Ave, Albany, NY 12202 · All properties

DESCRIPTION-FULL-2026-04-12 - 88 Madison Ave, Albany, NY 12202.md

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**Fourplex in Downtown Albany, NY. Each of the four units are rented separately on Airbnb, VRBO, Earlbnb.com, Google Vacation Rentals, and more** ## Offering Details - [Earl Co](https://loftyassist.com/profiles/eco) transferred his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace.. This property is the only asset owned by the LLC. - Tokens represent direct ownership in the LLC that owns the property. Earl will maintain at least 10% ownership in the LLC in

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**Fourplex in Downtown Albany, NY. Each of the four units are rented separately on Airbnb, VRBO, Earlbnb.com, Google Vacation Rentals, and more**

## Offering Details
- [Earl Co](https://loftyassist.com/profiles/eco) transferred his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace.. This property is the only asset owned by the LLC.
- Tokens represent direct ownership in the LLC that owns the property. Earl will maintain at least 10% ownership in the LLC indefinitely.
- View proof of Earl's ownership prior to the title transfer and proof of title transfer [here](https://www.dropbox.com/scl/fi/opven2vapgugqxo32h4pi/Warranty-Deed-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=v4gv5417w3l7mtzr4ulvw4zk9&dl=0).
- View the LLC documents [here](https://www.dropbox.com/scl/fo/iclv3g7ch7g9tb81o4m5g/ABG3GsxAvW7JI838riv6dGc?rlkey=vztnawf6h5iy6rxsam2ao0ura&st=8qtwl9cj&dl=0).
- Earl is a Superhost on Airbnb and manages the property. [View Earl's Airbnb Superhost profile](https://www.airbnb.com/users/show/44434571)

## Property Details
- This property is a historically significant building situated in The Pastures Historic District, a residential area noted for its remarkable architectural heritage and contribution to Albany's urban narrative.
- This particular address is listed on the National Register of Historic Places and reflects a slice of American history, encapsulated in the fabric of its construction and the succession of its ownership. Built in a period when Albany was undergoing significant growth, the building at 88 Madison Avenue stands as a testament to the Federal style, indicative of the early 19th-century architectural preferences. [View Historical Certificate](https://www.dropbox.com/scl/fi/t439sv9nf4b6t9vbp8su3/88-Madison-Ave-Historic-Albany-Foundation.webp?rlkey=p24p4ng1ojh6owno4qa8dk309&dl=0).
- The Pastures Historic District itself is a testament to Albany's rich past, with many buildings dating back to the 18th and 19th centuries. The property at 88 Madison Avenue, with its storied past including ownership by Henry Beekman and occupation by Lewis Benedict, contributes to the narrative of Albany's development from a colonial town to a modern city.
- Great location near Albany Medical Center, Times Union Center, Empire State Plaza, Library, Lark Street, State Offices, courts; easy access to local & regional bus routes and highways (I-787, I-90 & I-87).
- New York Plans to Invest $1 Billion to Expand Chip Research in Albany. [Click here](https://www.nytimes.com/2023/12/11/technology/new-york-chips-act-albany.html) to read more.
- New furniture and appliances have just been installed in the units.
- The "Utilities" expense in the "Financials" tab includes software & apps, cleaning, rental supplies, and utilities. See the Profit & Loss Statements [here](https://www.dropbox.com/scl/fo/0eqtgu7lnmdbg2ven0siz/AArtZx5B331D4ZkNnLPfuqw?rlkey=3ghl9hoc1a3mv0yzicf5nkq7f&dl=0) for more details.
- Prepaid Choice Home Warranty is covered for appliances through 12/27/2026 ($496/year value).
- [View direct booking website](https://earlbnb.com/)
- [View the Year-to-date P&L](https://www.dropbox.com/scl/fi/v2yw9z98zh3mcysk8v37d/P-L-88-Madison-Ave-Albany-NY-12202.xlsx?rlkey=gxbrcwvfo5ilrhzg2450u97ka&dl=0)
- [View Metrics](https://share.hospitable.com/metrics/c6a240ab-21f0-478e-9f35-5c937abe437e)
- [View Maintenance Log](https://docs.google.com/spreadsheets/d/1pxDWSGpQJs4SeOVxK5NRGlKnXI0qWlV_ulo1ewKGzkM/edit?usp=sharing)
- The annual projected appreciation rate is taken from [Redfin](https://www.redfin.com/zipcode/12202/housing-market)

## Property Management and Insurance
- Managed by the seller, Earl Co, a Superhost on [Airbnb](https://www.airbnb.com/users/show/44434571)
- Earl is a Superhost on Airbnb with 6 years of hosting experience, over 2,400 reviews, and an overall rating of 4.74/5 stars. He will continue to manage the property after selling a portion of his equity. [Click here](https://www.airbnb.com/users/show/44434571) to view Earl's Superhost profile on Airbnb.
- [Property Management Agreement](https://www.dropbox.com/scl/fi/6ndayeg4a578r9n3w23yg/Property-Management-Agreement-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=kdeuamrx2vet7kg4uyvxdypz5&st=fu1c28r0&dl=0)
- [Insurance Policy](https://www.dropbox.com/scl/fi/wth17ut8j4xzvzixedzkf/Insurance-exp-2025-11-29-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=gowdra5bhd4n4bhlqm2smd4zs&dl=0) from State Farm.
![Airbnb](https://www.dropbox.com/scl/fi/a038w2q1ddqnh8y1nphfw/Earl_Airbnb_Profile.png?rlkey=9aytmu7olz8obgozyvmdjbaw8&st=ou3b0305&raw=1)

## Property Leverage
- This property has a loan of $181,969.25 as of 11/06/2025. View the loan documents [here](https://www.dropbox.com/scl/fi/30d8m3cy42wminme1ol8o/Loan-Agreement-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=8tn0jj76i94j2jdnuk0pek8ag&dl=0).
- As the seller, [Earl Co](https://www.airbnb.com/users/show/44434571) pays down 100% of the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors have the ability to change this structure via a governance vote.
## Occupancy Status
- **Unit 1 (1BD/1BA Garden Apartment Suite)**
- [Airbnb listing](https://www.airbnb.com/rooms/28868857?source_impression_id=p3_1706892017_LkwoDK0VWJ3COujF)
- **Unit 2 (2BD/1BA Floor 1 Apartment Suite)**
- [Airbnb listing](https://www.airbnb.com/rooms/32993402?source_impression_id=p3_1706892043_ixJJ2EZ%2FXLiiHPtB)
- **Unit 3 (2BD/1BA Floor 2 Apartment Suite)**
- [Airbnb listing](https://www.airbnb.com/rooms/33558235?source_impression_id=p3_1706892062_dFp3gLfeC6UrDWuf)
- **Unit 4 (1BD/1BA Floor 3 Loft Suite)**
- [Airbnb listing](https://www.airbnb.com/rooms/28722270?source_impression_id=p3_1706892081_KiZxTfJ8nEJHKsns)
## Location Data
- "B+" Rating for Zip Code on [Niche](https://www.niche.com/places-to-live/z/12202/)
## Due Diligence Documents
- [Appraisal](https://www.dropbox.com/scl/fi/2sdh8u0lg6aui25gj863t/Appraisal-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=l204yeuwej5en46iakdbrmxty&dl=0)
- [HouseCanary Property Valuation Report](https://www.dropbox.com/scl/fi/xp7laxq1r06u6yxhc3avb/Property-Valuation-Reports-May-2024-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=sbjpswll0n8n8yp007harjhu1&st=8hiqds3a&dl=0)
- [Inspection Report](https://www.dropbox.com/scl/fi/wylvgd29b48d253lbrklc/Inspection-Report-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=0jdvbks0038x8p7ls8nbn5gan&dl=0)
- [Inspection Report Repairs](https://www.dropbox.com/scl/fi/k8gn4jnqxtppbg9fcgdr9/Inspection-Report-Repairs-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=c3y5bgvmomfxb6i3vdo311g5a&dl=0)
- [Warranty Deed](https://www.dropbox.com/scl/fi/opven2vapgugqxo32h4pi/Warranty-Deed-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=v4gv5417w3l7mtzr4ulvw4zk9&dl=0)
- [Operating Agreement](https://www.dropbox.com/scl/fi/bm6cq3v277moi4qpie18n/Operating-Agreement-Heron-LFTY0314-DAO-LLC.pdf?rlkey=r8luwtvbzepcdr269whaf7fq0&dl=0)
- [View All Documents](https://www.dropbox.com/scl/fo/jlfymrughj26fjxrdmqnx/h?rlkey=6uh6itf6r82hqu1bnwu53z572&dl=0)
- [View All Updates](https://www.loftyassist.com/properties/01HH55NJSE80CHPE90B1RTRQRB)