Lofty 84 Madison Avenue

Duplex Short-term Rental in Downtown Albany, NY.

Offering Details

Earl Co and 7 others purchased this property under a new LLC and are 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 title transfer here. View the LLC documents here.

Duplex Airbnb with 2 units listed, generating $6,221 in gross revenue in its first month.
5-bedroom, 3 bath apartment in Albany’s historic Pastures neighborhood, close to Albany Med, Empire State Plaza, MVP Arena, Lark Street, State Offices, courts, and major highways (I-787, I-90, I-87).
Entire private unit (1st or 2nd floor) with front and back entrances, balcony or patio, and access to a fenced backyard.
Spacious living area with sectional sofa, 55" 4K Roku TV, additional bedroom TVs, high-speed Wi-Fi, and dedicated workspace.
Fully equipped kitchen with appliances, dining island or 6-seater table, plus complimentary pantry items and essentials.
1 Queen and 1 Full bed, full bathroom with toiletries, washer/dryer, plenty of closet space, and a chic, artistic environment with plants and personal touches.
The attic space of 84 Madison represents potential upside in revenue in the future once permitted and built out as a full unit and a capital call is funded to furnish and list as short-term rental. Floor plan of approximate dimensions
Virtual Tour

Airbnb

Airbnb

Short term rental with 2 units listed on Airbnb
Airbnb Listing 1
Airbnb Listing 2
The attic space of 84 Madison represents potential upside in revenue in the future once permitted and built out as a full unit and a capital call is funded to furnish and list as short-term rental. Floor plan of approximate dimensions

This property has a loan balance of $206,755. View the loan documents here
The DAO LLC will make monthly mortgage payments of $1,366.41 directly from the property’s rental income, locked at a 6.875% rate. Investors have the ability to change this structure via a governance vote.
Wesley Babcock, as guarantor on the loan and one of the owners, will ensure all mortgage payments are made in a timely fashion, and will advance funds to cover any mortgage shortfall if rental income falls short. The DAO will reimburse for principal, interest, taxes, and insurance as funds become available.