← 90 Madison Ave, Albany, NY 12202 · All properties
UPDATES.md
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| Property | 90 Madison Ave, Albany, NY 12202 |
|---|---|
| Folder | README & Property Snapshot |
| Kind | Text |
| Updated | 2026-07-16 |
| Dropbox path | 00 - 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: $8,703.82
Operating Expenses: -$7,241.77
NOI: $1,462.05
Retained Capital: -$1,000.00
Net Operating Cashflow: $462.05
## 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: $1,946.77 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$3,898.34 (ECO Systems General Ledger Column E (935 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: $8,703.82
Operating Expenses: -$7,241.77
NOI: $1,462.05
Retained Capital: -$1,000.00
Net Operating Cashflow: $462.05
## 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: $1,946.77 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$3,898.34 (ECO Systems General Ledger Column E (935 rows))
Financial summary:
- Lofty-held current maintenance reserve: $1,946.77
- ECO GL Column E sum: $1,465.47 (969 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: $8,703.82
Operating Expenses: -$7,241.77
NOI: $1,462.05
Retained Capital: -$1,000.00
Net Operating Cashflow: $462.05
## 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: $1,946.77 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$3,898.34 (ECO Systems General Ledger Column E (935 rows))
<!-- NY_HI_ACCRUAL_RECONCILIATION_START -->
## Accrual Funding Reconciliation (2026-07-15)
The ECO GL begins `2024-04-01`, the first day of the month before the first token sale on `2024-05-14`. Earlier rows are excluded from this DAO's GL.
- ECO GL Column E accounting position: **$1,465.47**.
- Open accrual requirement: **$16,654.66** (escrow reserve $3,205.56, legal dao payable $750.00, pm payable $12,699.10).
- Other accounts payable / receivable: **$1,817.61 AP** and **$6,106.47 AR**.
- Live unrestricted DAO bank cash: **$6,406.06**.
- Restricted cash excluded from ordinary funding: **$0.00**.
- Bank funding gap after net AR/AP: **$5,959.74 underfunded**; surplus **$0.00**.
- 2026 retained-capital model: retained $1,761.98; 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: $7,556.91 (funding required before full transfer)
- Pay Heron LFTY0314 DAO LLC: $1,288.13 (funding required before full transfer)
- Pay Snow Leopard LFTY0439 DAO LLC: $431.91 (funding required before full transfer)
- Receive from Earl Co (personal Chase checking ...0000): $214.28
- Pay Lychee LFTY0431 DAO LLC: $97.57 (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: $8,703.82
Operating Expenses: -$7,241.77
NOI: $1,462.05
Retained Capital: -$1,000.00
Net Operating Cashflow: $462.05
## 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: $1,946.77 (Lofty curr_maintenance_reserve)
ECO Operating Cash: -$3,898.34 (ECO Systems General Ledger Column E (935 rows))
Financial summary:
- Lofty-held current maintenance reserve: $1,946.77
- ECO GL Column E sum: $1,465.47 (967 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: $8,653.82
Operating Expenses: -$7,241.76
NOI: $1,412.06
Net Operating Cashflow: $1,412.06
## 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: $1,946.77 (Lofty curr_maintenance_reserve)
ECO Operating Cash: $1,551.69 (ECO Systems General Ledger Column E (927 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 (2026-04)
**Source:** Cash Flow Statement, month `2026-04`
**Updated:** 2026-05-18
| Metric | Amount |
|---|---:|
| Revenue | $5,510.51 |
| Operating Expenses | -$4,625.44 |
| NOI | $885.07 |
| Loan/CapEx/Retained Earnings | $0.00 |
| Net Operating Cashflow | $885.07 |
| Rents | $5,510.51 |
| Property Management Fee | -$1,377.63 |
| Insurance | $0.00 |
| Taxes | $0.00 |
| Utilities | -$820.89 |
| Repairs / Maintenance | -$1,635.53 |
| Operating Reserve Balance | $0.00 |
| ECO Cash Balance | $0.00 |
| Mortgage Principal Balance | $1,200,000.00 |
| Estimated NAV | $0.00 |
`source_workbook: [local-path]/Dropbox/Real Estate/NY/90 Madison Ave Public/07 - P&L & Owner Statements/Cash Flow Statement - 90 Madison Ave.xlsx`
<!-- AUTO:CF_PRIOR_MONTH_END -->
## 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 | $1,946.77 | Lofty `curr_maintenance_reserve` |
| ECO Operating Cash | $12,232.04 | ECO Systems General Ledger Column E (913 rows) |
Financial summary:
- Lofty-held current maintenance reserve: $1,946.77
- ECO GL Column E sum: $12,232.04 (913 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: $1,946.77
- ECO GL Column E sum: $12,048.17 (902 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: $1,946.77
- ECO GL Column E sum: $12,048.17 (902 rows)
## 2026-06-30
- Property Update (06/30/2026):
Quick financial transparency update for **90 Madison Ave Albany, NY 12202** before the MLS listing process advances.
- The current approved financial view shows **Lofty Operating Cash of $1,946.77** held as Lofty `curr_maintenance_reserve`.
- The ECO Systems General Ledger Column E operating cash balance is **$12,048.17** across **902 rows**.
- NOI YTD is **$2,677.13**, but this should **not** be treated as distributable while debt service / escrow reimbursement remains under reconciliation.
- Debt service / escrow cash obligation for Jan-Apr is **($9,238.36)**, leaving **($6,561.23)** cash after debt service before reimbursement true-up.
- Distributable now remains **$0.00 pending reimbursement reconciliation**.
- Keep the live Lofty listing financial summary aligned to the 2026-06 approved financials.
- Continue debt-service reimbursement/true-up review before any distribution framing.
- Keep supporting statements and ledger files in `Public/07 - P&L & Owner Statements`.
Financial summary:
- Lofty-held current maintenance reserve: $1,946.77
- ECO GL Column E sum: $12,048.17 (902 rows)
## 2026-06-30
- Property Update (06/30/2026):
Hi everyone,
Quick financial transparency update for **90 Madison Ave Albany, NY 12202** before the MLS listing process advances.
- The current approved financial view shows **Lofty Operating Cash of $1,946.77** held as Lofty `curr_maintenance_reserve`.
- The ECO Systems General Ledger Column E operating cash balance is **$12,048.17** across **902 rows**.
- NOI YTD is **$2,677.13**, but this should **not** be treated as distributable while debt service / escrow reimbursement remains under reconciliation.
- Debt service / escrow cash obligation for Jan-Apr is **($9,238.36)**, leaving **($6,561.23)** cash after debt service before reimbursement true-up.
- Distributable now remains **$0.00 pending reimbursement reconciliation**.
**What to expect next**
- Keep the live Lofty listing financial summary aligned to the 2026-06 approved financials.
- Continue debt-service reimbursement/true-up review before any distribution framing.
- Keep supporting statements and ledger files in `Public/07 - P&L & Owner Statements`.
Financial summary:
- Lofty-held current maintenance reserve: $1,946.77
- ECO GL Column E sum: $12,048.17 (902 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 $1,365.38, compared to September's net cash flow of $507.40 (169% increase). Per the recent governance vote to refinance, this includes $1,400 in retained earnings set aside (diverted from previous principal curtailment).
- [P&L Statement](https://www.dropbox.com/scl/fi/8d9qxje0m8qha7kqqpr8l/P-L-90-Madison-Ave-Albany-NY-12202.xlsx?rlkey=bkd8lcejkz851dcchpc792b26&st=ep09uupo&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 (or reserves).
- All financial data are in [Dropbox](https://asset.lofty.ai/LFTY402) and Metrics are in [Hospitable](https://share.hospitable.com/metrics/7fbf01ed-dd53-4d29-9f6e-60be718281e1). Email earl@earlbnb.com if something is missing.
## 2025-07-29
- Property Update (07/29/2025):
- Governance Results for 90 Madison Ave:
- The voting results are back for the owner-proposed governance vote.
- The winning vote is:
- Give Nathaniel Gipson Full-Authorization to seek out and execute an aforementioned refinance terms and deal on behalf of Strawberry LFTY402 D