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

UPDATES.md

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Property88 Madison Ave, Albany, NY 12202
FolderREADME & Property Snapshot
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Updated2026-07-16
Dropbox path00 - 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: $10,443.90
Operating Expenses: -$9,479.41
NOI: $964.49
Net Operating Cashflow: $964.49

## 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: $1,147.19 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$8,571.75 (ECO Systems General Ledger Column E (1344 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: $10,443.90
Operating Expenses: -$9,479.41
NOI: $964.49
Net Operating Cashflow: $964.49

## 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: $1,147.19 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$8,571.75 (ECO Systems General Ledger Column E (1344 rows))

Financial summary:
- Lofty-held current maintenance reserve: $1,147.19
- ECO GL Column E sum: $4,423.12 (1376 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: $10,443.90
Operating Expenses: -$9,479.41
NOI: $964.49
Net Operating Cashflow: $964.49

## 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: $1,147.19 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$8,571.75 (ECO Systems General Ledger Column E (1344 rows))

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

The ECO GL begins `2023-12-01`, the first day of the month before the first token sale on `2024-01-29`. Earlier rows are excluded from this DAO's GL.

- ECO GL Column E accounting position: **$4,423.12**.
- Open accrual requirement: **$18,831.06** (legal dao payable $750.00, pm payable $18,081.06).
- Other accounts payable / receivable: **$7,318.27 AP** and **$4,015.12 AR**.
- Live unrestricted DAO bank cash: **$1,449.39**.
- Restricted cash excluded from ordinary funding: **$0.00**.
- Bank funding gap after net AR/AP: **$20,684.82 underfunded**; surplus **$0.00**.
- 2026 retained-capital model: retained $1,009.93; ECO principal/interest debt $0.00.

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: $24,681.86 (funding required before full transfer)
  - Receive from Snow Leopard LFTY0439 DAO LLC: $1,356.00
  - Receive from Strawberry LFTY402 DAO LLC: $1,288.13
  - Receive from Lychee LFTY0431 DAO LLC: $1,172.93
  - Pay Poodle LFTY0452 DAO LLC: $443.72 (funding required before full transfer)
  - Pay Property ledger: 3560 Saint Albans Rd: $354.00 (funding required before full transfer)
  - Pay Property ledger: 9919 S Oglesby Ave: $220.00 (funding required before full transfer)
  - Pay Beagle LFTY0454 DAO LLC: $163.65 (funding required before full transfer)
  - Pay Property ledger: 22 W Main St: $137.23 (funding required before full transfer)
  - Receive from Kiwi LFTY400 DAO LLC: $134.32
  - Pay Grape LFTY403 DAO LLC: $108.00 (funding required before full transfer)
  - Receive from Zebra LFTY0476 DAO LLC: $63.74
  - Pay Property ledger: 82 Madison Ave: $40.87 (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: $10,443.90
Operating Expenses: -$9,479.41
NOI: $964.49
Net Operating Cashflow: $964.49

## 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: $1,147.19 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$8,571.75 (ECO Systems General Ledger Column E (1344 rows))

Financial summary:
- Lofty-held current maintenance reserve: $1,147.19
- ECO GL Column E sum: -$370.82 (1374 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: $10,443.90
Operating Expenses: -$9,479.41
NOI: $964.49
Net Operating Cashflow: $964.49

## 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: $1,147.19 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$8,571.75 (ECO Systems General Ledger Column E (1344 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 | $1,147.19 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | $5,532.94 | ECO Systems General Ledger Column E (1304 rows) |

## Source Evidence

| Field | Value |
|---|---|
| Source month | 2026-06 |
| ECO GL source | `[local-path]/Users/digit/Dropbox/Real Estate/NY/88 Madison Ave Public/07 - P&L & Owner Statements/ECO Systems General Ledger - 88 Madison Ave.csv` |
| Source-month dated rows | 0 |
| Revenue bucket count | 0 |
| Operating expense bucket count | 0 |
| ECO GL Column E rows | 1304 |
| ECO GL Column E sum | $5,532.94 |

Financial summary:
- Lofty-held current maintenance reserve: $1,147.19
- ECO GL Column E sum: $5,532.94 (1304 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: $1,147.19
- ECO GL Column E sum: $4,077.67 (1314 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: $1,147.19
- ECO GL Column E sum: $4,077.67 (1314 rows)

## 2025-11-15

- Property Update (11/15/2025):
- Owners will be receiving the net cash flow for October on a daily basis from November 15th through December 14th.
    - October's net cash flow totaled $2,505.32, compared to September's net cash flow of $879.91 (185% increase).
    - [P&L Statement](https://www.dropbox.com/scl/fi/v2yw9z98zh3mcysk8v37d/P-L-88-Madison-Ave-Albany-NY-12202.xlsx?rlkey=gxbrcwvfo5ilrhzg2450u97ka&dl=0)
    - [View Maintenance Log](https://docs.google.com/spreadsheets/d/1pxDWSGpQJs4SeOVxK5NRGlKnXI0qWlV_ulo1ewKGzkM/edit?usp=sharing)
    - Note that cleaning, repairs, and maintenance for the prior month are accounted for the following month, i.e. October R&M will come out of November NOI.
    - All financial data are in [Dropbox](https://asset.lofty.ai/LFTY0314) and Metrics are in [Hospitable](https://share.hospitable.com/metrics/c6a240ab-21f0-478e-9f35-5c937abe437e). Email earl@earlbnb.com if something is missing.

## 2025-06-13

- Property Update (06/13/2025):
- Owners are currently receiving the net cash flow for May on a daily basis through July 12th.
    - May's net cash flow totaled $17, compared to April's net cash flow of $1,849.67 (99% decrease). This is because we needed to repaint the entirety of the Floor 1 apartment due to 6 years of wear and tear from guests, among other [maintenance and upkeep items totaling $6,642.50](https://docs.google.com/spreadsheets/d/1pxDWSGpQJs4SeOVxK5NRGlKnXI0qWlV_ulo1ewKGzkM/edit?usp=sharing) we decided to do to prevent further 1-star reviews before the incoming summer wave. As a result, we have drained the OR of $3,000, depleted the NOI for May, and still owe a balance of $2,000 which will come out of June's NOI unless owners vote otherwise.
    - Owners may propose a vote to back a capital call of $2,000 via a short-term loan, pay the balance out of the NOI in June, or dilutively issue 32 governance shares at $65/share to pay off this balance.
    - [P&L Statement](https://www.dropbox.com/scl/fi/v2yw9z98zh3mcysk8v37d/P-L-88-Madison-Ave-Albany-NY-12202.xlsx?rlkey=gxbrcwvfo5ilrhzg2450u97ka&dl=0)
    - [Bank Statements](https://www.dropbox.com/scl/fo/d16nywge8p0hgxkt91lte/AP8dc8VrEmMVbRB7vlaXlmE?rlkey=fvyh8p807yvdyvlhefttai6hk&dl=0)
    - [Reservations (2025-05)](https://www.dropbox.com/scl/fi/o76okcsvrenhqpygqyrk8/Reservations-2025-05-88-Madison-Ave-Albany-NY-12202.csv?rlkey=0tyo48wv4x0eko4btzkry2j6k&dl=0)
    - [KPIs (2025-05)](https://www.dropbox.com/scl/fi/aaskneisxkversh2k8xx8/KPIs-2025-05-88-Madison-Ave-Albany-NY-12202.csv?rlkey=5m5blc4wt7gyhdyiq0r6o40x8&dl=0)
    - [Mortgage Statements](https://www.dropbox.com/scl/fo/6rwi4hvzz8lgeqnyw0puj/AIqJi5dKhfpV8kVV4rPRro0?rlkey=hzvk2co5j14jmooswsgqz8kqr&dl=0)

## 2025-05-17

- Property Update (05/17/2025):
- Owners are currently receiving the net cash flow for April on a daily basis through June 12th.
    - April's net cash flow totaled $1,849.67, compared to March's net cash flow of $1,792.23.
    - Earl, the co-owner and Property Manager, has shared additional details for investors, outlined below:
    - "NOI: $1,849.67 (3% increase over March) + $62.50 DAO LLC Fees = $1,912.17"
    - [P&L Statement](https://www.dropbox.com/scl/fi/v2yw9z98zh3mcysk8v37d/P-L-88-Madison-Ave-Albany-NY-12202.xlsx?rlkey=mxzr8ry7yjo00ou1roovwb4d5&e=1&st=zxzx42t6&dl=0)
    - [Bank Statement](https://www.dropbox.com/scl/fi/68dx0aqiem1g0spo37quh/Baselane-Bank-Statement-2025-04-88-Madison-Ave-Albany-NY-12202.pdf?rlkey=j1etgsajks83ugd0bpqy0vj01&e=1&st=135rdq11&dl=0)
    - [Reservations (2025-04)](https://www.dropbox.com/scl/fi/pdikqdn6153v6hj6k4lbw/Reservations