DESCRIPTION-FULL-2026-04-12 - 84 Madison Ave, Albany, NY 12202.md

**Duplex Short-term Rental in Downtown Albany, NY.**

## Offering Details
- [Earl Co](https://loftyassist.com/profiles/eco) 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](https://www.dropbox.com/scl/fi/sbgnxvjuimih3p5p8l8zg/Warranty-Deed-recorded-84-Madison-Ave-Albany-NY-12202.pdf?rlkey=x28eaos2lun7s7pckknvhh0fb&st=cr1t0l9g&dl=0). View the LLC documents [here](https://www.dropbox.com/scl/fo/srufy9cuxbflmoetcnuo5/AKljc3eaNmoNcFnT5YbTc4Q?rlkey=gmkt7rpynsjsuewwavuhxj6v5&st=ssxwzc47&dl=0).

## Property Details
- 5-bedroom, 3 bath duplex 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](https://www.dropbox.com/scl/fi/8w32vsn400z0nvrgommz0/84.3-Floor-Plan.pdf?rlkey=bc0vb4r0uawymdcusymmzq8yn&e=1&st=v5hjsi4y&dl=0)
- [Virtual Tour](https://unbranded.youriguide.com/84-Madison-Ave-7-21-25/)
- [View direct booking website](https://earlbnb.com/)
- [View the Year-to-date P&L](https://www.dropbox.com/scl/fi/znde8cuk5q055k39z8bxh/Cash-Flow-Statement-84-Madison-Ave-Albany-NY-12202.xlsx?rlkey=f07igfeb0gzqaqmiboolsn975&dl=0)
- [View Metrics](https://share.hospitable.com/metrics/49a774a5-2d60-4dce-adff-17e2a0091df8)
- [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)

![Airbnb](https://www.dropbox.com/scl/fi/09hfz1v6l2g8i1olmkfg7/Screenshot-2025-08-25-at-11_LE_upscale_balanced_x4_light_ai_30.jpg?rlkey=oo6ekonhbluwbopvzkjpq4flz&st=dvz7orp8&raw=1)

## Property Management and Insurance
- Managed by the seller, Earl Co, a Superhost on [Airbnb](https://www.airbnb.com/users/show/44434571)
- [Property Management Agreement](https://www.dropbox.com/scl/fi/xu49n95860zsrxl07djlw/STR-PMA-84-Madison-Ave-Albany-NY-12202-signed.pdf?rlkey=pi3715jdzolx4ciqjgdrv9ti0&st=edszenkn&dl=0)
- [Insurance Policy](https://www.dropbox.com/scl/fi/15qm0zspu4ds4nlr5xj1b/State-Farm-Insurance-2024-2025-84-Madison-Ave-Albany-NY-12202.pdf?rlkey=80ji6ld3fafloikar5tuwe8y2&st=vdvnznn9&dl=0)
- [Flood Insurance Policy](https://www.dropbox.com/scl/fi/xaawephmp0ailh87gez2a/Flood-Insurance-84-Madison-Ave-Albany-NY-12202.pdf?rlkey=hn2s7v21at02ff4a7yn2g3bmn&st=s82luxb1&dl=0)

![Airbnb](https://www.dropbox.com/scl/fi/9h5bd718szyopm0xtvfpq/Screenshot-2025-07-16-at-4_LE_upscale_balanced_x4_light_ai_30.jpg?rlkey=swwhc1cm0xtsyfsp84hvlx2g0&st=ou3b0305&raw=1)

## Occupancy Status
- Short term rental with 2 units listed on Airbnb
- [Airbnb Listing 1](https://www.airbnb.com/rooms/1448501719166920474?source_impression_id=p3_1756144653_P3Tabufnn6zPT4Ou)
- [Airbnb Listing 2](https://www.airbnb.com/rooms/1439472202376740681?source_impression_id=p3_1756144654_P3hrT40mWFfoH3d_)
- 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](https://www.dropbox.com/scl/fi/8w32vsn400z0nvrgommz0/84.3-Floor-Plan.pdf?rlkey=bc0vb4r0uawymdcusymmzq8yn&e=1&st=v5hjsi4y&dl=0)

## Property Leverage
- This property has a loan balance of $206,206.83 as of 11/04/2025. View the loan documents [here](https://www.dropbox.com/scl/fo/vlqgwkzuwk478akayop45/AGDn3xj7CxGefvS63DKx1Kw?rlkey=47taavtkr42ihbvk8utlpnjpr&st=o4wka2oa&dl=0)
- 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.

## 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/oxti6fvbr37zuhrf1p9lx/Appraisal-Report-2025-08-04-84-Madison-Ave-Albany-NY-12202.pdf?rlkey=cn2u0m658febpikd67rzmlsh0&st=qx8d2xce&dl=0)
- [Inspection Report](https://www.dropbox.com/scl/fi/ptius6cgqyq656w8qw8l9/Inspection-Report-Post-rehab-84-Madison-Ave-Albany-NY-12202.pdf?rlkey=8kc3ece8d578ncq9of7e9utpo&st=yevy6b4i&dl=0)
- [Operating Agreement](https://www.dropbox.com/scl/fi/lqb6psnz4zsyoxyykuegw/Operating-Agreement-Lychee-LFTY0431-DAO-LLC.pdf?rlkey=46auri3m0vq7c9zkxpdho16go&st=wmxbgg86&dl=0)
- [View All Documents](https://www.dropbox.com/scl/fo/iflfxn8kq5o4re0augtq0/APXWmqvgkCJ_bUPVdYhbtLk?rlkey=dvd2i4l9k2y7e07lotozdua6m&st=d1fyyo41&dl=0)
- [View All Updates](https://www.loftyassist.com/properties/01K1KEB3HS6VSQXXZG0Y7DKSCC)