# HUDSON HOUSING SECURITIES LLC X-17A-5 (2024-02-28) — Broker-dealer annual report - Company: HUDSON HOUSING SECURITIES LLC - Form: X-17A-5 - Filed: 2024-02-28 - Period: 2023-12-31 - Accession: 0001686173-24-000002 - CIK: 1105689 - File #: 8-52348 - Type: Broker-dealer - Material weakness: No - Auditor: CohnReznick LLP - Auditor location: New York, NY - Contact: Matthew Brush - Phone: 212 218 4456 - Email: matt.brush@hudsonhousing.com - Website: hudsonhousing.com - Signed by: Joseph A. Macari (CCO, Hudson Housing Securities LLC) Original filing: https://www.sec.gov/Archives/edgar/data/1105689/000168617324000002/hhsaudit.pdf --- {0}------------------------------------------------ Financial Statements (With Supplementary Information) and Report of Independent Registered Public Accounting Firm December 31, 2023 {1}------------------------------------------------ ### Index | | Page | |----------------------------------------------------------------------------------------------------------------------------------------------------------|------| | Annual Reports Form X-17a-5 Part III | | | Report of Independent Registered Public Accounting Firm | 2 | | Financial Statements | | | Statement of Financial Condition | ব | | Statement of Income | 5 | | Statement of Changes in Member's Equity | 6 | | Statement of Cash Flows | 7 | | Notes to Financial Statements | 8 | | Supplementary Schedules Required by Rule 17a-5 of the
Securities Exchange Act of 1934 | | | l - Computation of Net Capital Under Rule 15c3-1 of the
Securities and Exchange Commission
December 31, 2023 | 11 | | II - Computation for Determination of the Reserve Requirements
Under Rule 15c3-1 of the Securities and Exchange Commission
December 31, 2023 | 12 | | III - Information Relating to the Possession or Control Requirements Under
Rule 15c3-3 of the Securities and Exchange Commission
December 31, 2023 | 13 | {2}------------------------------------------------ **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # **ANNUAL REPORTS FORM X-17A-5 PART Ill** SEC FILE NUMBER 8-52348 **FACING PAGE** **Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934** FILING FOR THE PERIOD BEGINNING **01/01/2023** AND ENDING **12/31/2023** MM/DD/YY MM/DD/YY **A. REGISTRANT IDENTIFICATION** # NAME oF FIRM: \_H\_u\_d\_s\_o\_n\_H\_o\_u\_s\_in\_g\_S\_e\_c\_u\_ri\_ti\_e\_s\_L\_L\_C \_\_\_\_\_\_\_\_ \_ TYPE OF REGISTRANT (check all applicable boxes}: 0 Broker-dealer □ Security-based swap dealer D Check here if respondent is also an OTC derivatives dealer □ Major security-based swap participant ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | {No. and Street} | | | |--------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------|-----------------|--------------------------------------------| | New York | NY | | 10111 | | (City) | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | Matthew Brush | (212)218-4456 | | matt.brush@hudsonhousing.com | | (Name) | (Area Code - Telephone Number) | (Email Address} | | | | B. ACCOUNTANT IDENTIFICATION | | | | CohnReznick LLP | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
(Name - if individual, state last, first, and middle name) | | | | 1301 Avenue of the Americas, 10th fl | New York | NY | 10019 | | (Address) | (City) | {State) | (Zip Code) | | 10/14/2003 | | 596 | | | te of Reg;stcatioo w;th PCAOB)Of appUcable)
r | | | {PCAOB Reg;stc,t;oo Nombec, ;f applkable)I | | | FOR OFFICIAL USE ONLY | | | | | | | | \* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-S(e)(l)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid 0MB control number. {3}------------------------------------------------ ### **OATH OR AFFIRMATION** | I, Joseph A Macari | swear (or affirm) that, to the best of my knowledge and belief, the | |--------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | financial report pertaining to the firm of Hudson Housing Securities LLC | as of | | _1_2_/_3_1 __________ _,
2~ | , is true and correct. I further swear (or affirm) that neither the company nor any | | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | as that of a customer. | | **FRANKSBIAU** Notary Public, State of New **York No. 01SH6017035 Qualified in Queens County Commission Expires Dec. 7, 20 .z 6** | Signature: | | | |------------|------------------------------------|--| | litle: | | | | | CCO, Hudson Housing Securities LLC | | ### **This filing\*\* contains (check all applicable boxes):** - ~ {a) Statement of financial condition. - 0 {b) Notes to consolidated statement of financial condition. - ~ {c) Statement of income {loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in§ 210.1-02 of Regulation S-X). - ~ {d) Statement of cash flows. - ~ {e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - 0 {f) Statement of changes in liabilities subordinated to claims of creditors. - ~ (g) Notes to consolidated financial statements. - ~ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable. - 0 {i) Computation of tangible net worth under 17 CFR 240.18a-2. - ~ {j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - D {k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - D (I) Computation for Determination of PAB Requirements under Exhibit A to§ 240.15c3-3. - ~ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - 0 (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3{p){2) or 17 CFR 240.18a-4, as applicable. - ~ {o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-l, 17 CFR 240.18a-l, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - D {p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - ~ {q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - 0 (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ~ {s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - D (t) Independent public accountant's report based on an examination of the statement of financial condition. - ~ (u) Independent public accountant's report based on an examination of the financial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - D (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ~ {w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - **!!!I** {x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable. - D {y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12{k). 0 {z) Other:-------------------------------------- - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e}(3} or 17 CFR 240.18a-7(d)(2}, as applicable. {4}------------------------------------------------ ![](_page_4_Picture_1.jpeg) # Report of Independent Registered Public Accounting Firm ### To the Managing Member Hudson Housing Securities LLC ### Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Hudson Housing Securities LLC (the "Company") as of December 31, 2023, the related statements of income, changes in member's equity and cash flows for the year then ended, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the l Inited States of America ### Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. {5}------------------------------------------------ ![](_page_5_Picture_0.jpeg) ### Supplemental Information The supplemental information contained in Schedules I, II and III has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental informing our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the information contained in Schedules I, II and III is fairly stated, in all material respects, in relation to the financial statements as a whole. shokeynick 2 We have served as the Company's auditor since 2001. New York, New York February 27, 2024 {6}------------------------------------------------ ### STATEMENT OF FINANCIAL CONDITION ### December 31, 2023 ### Assets | Cash | ക | 1,322,195 | |--------------------------------------------------------------------------|-------|-------------------| | Total assets | ಿ | 1,322,195 | | Liabilities and Member's Equity | | | | Liabilities
Accounts payable and accrued expenses
Due to affiliate | સ્ત્ર | 21,694
136,330 | | Total liabilities | | 158,024 | | Member's equity | | 1,164,171 | | Total liabilities and member's equity | S | 1,322,195 | {7}------------------------------------------------ ### STATEMENT OF INCOME ### Year ended December 31, 2023 | Revenue | | |----------------------------|-------------------| | Placement fees | ക്ക
11,427,047 | | Interest income | 14,864 | | Total revenue | 11,441,911 | | Expenses | | | Dues and filing fees | 33,515 | | Professional fees | 46,100 | | Оссирапсу | 46,641 | | Salaries | 771,215 | | Travel | 97,208 | | General and administrative | 46,912 | | Total expenses | 1,041,591 | | Net income | S
10,400,320 | | | | {8}------------------------------------------------ ### STATEMENT OF CHANGES IN MEMBER'S EQUITY ### Year ended December 31, 2023 | Balance, December 31, 2022 | ಕ | 491.970 | |----------------------------|----|-------------| | Distributions | | (9,728,119) | | Net income | | 10,400,320 | | Balance, December 31, 2023 | ಕೆ | 1,164,171 | {9}------------------------------------------------ ### STATEMENT OF CASH FLOWS ### Year ended December 31, 2023 | Cash flows from operating activities | | | |----------------------------------------------------------------------------------------------------------------------------------------|---|-------------------------| | Reconciliation of net income to net cash provided by operating activities
Net income
Changes in operating assets and liabilities | ಿ | 10,400,320 | | Increase in accounts payable and accrued expenses | | 3,532 | | Net cash provided by operating activities | | 10,403,852 | | Cash tlows from financing activities
Advances from affiliates
Distributions | | (94,157)
(9,728,119) | | Net cash used in financing activities | | (9,822,276) | | Net increase in cash | | 581.576 | | Cash, beginning of year | | 740,619 | | Cash, end of year | S | 1,322,195 | | | | | {10}------------------------------------------------ ### -- - --- ### ! 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L# /!M%#/!\$! N<5OJ4P>:=363:@J4PB3>:@5I32<2<5:52@>P32>B95Q839545:26JD2<5RSO>:7TUVW1EN<5 OJ4P>:=3668AX5@22J2<5RSOYZ:3DJ94V52O>P32>BW8B5?[I<3@<95Q839562<54>3:25:>:@5JD> 6P5@3D357>4J8:2JD43:3484:52@>P32>B?>675D3:57?>:72<>22<59>23JJD>;;95;>253:75A257:5662J :52@>P32>B?>675D3:57?:J25C@557-\2J-EV52@>P32>B>:72<595B>257:52@>P32>B9>23J4>=DB8@28>25 J:>7>3B=A>636E12]5@54A59^-?\_.\_^?2<5OJ4P>:=<>7:52@>P32>BJD`-?-ab?-c-I<3@<36 `-?-\^?a^a3:5C@566JD32695Q83957:52@>P32>BJD`-.?\^\EN<5OJ4P>:=d69>23JJD>;;95;>25 3:75A257:5662J:52@>P32>BI>6E-b2J-E {13}------------------------------------------------ ### SUPPLEMENTARY INFORMATION ### Schedule I - Computation of Net Capital Under Rule 15c3-1 of the Securities and Exchange Commission ### December 31, 2023 ### Line | 1. Total ownership equity from statement of financial condition | ಿ | 1,164,171 | |--------------------------------------------------------------------------|-------|-----------| | 5. Total capital and allowable subordinated liabilities | | 1,164,171 | | 6. Deduction: Nonallowable assets | | | | 10. Net capital | લ્ત્ર | 1,164,171 | | 11. Minimum net capital required (6 2/3% of aggregate indebtedness) | ક | 10,535 | | 12. Minimum dollar net capital requirement of reporting broker or dealer | ക | 5,000 | | 13. Net capital requirement | ಿ | 10,535 | | 14. Excess net capital | લ્ત્ર | 1,153,636 | | 15. Net capital less greater of 10% of line 19 or 120% of line 12 | ಕ್ಕಾ | 1,148,369 | | COMPUTATION OF AGGREGATE INDEBTEDNESS | | | | 19. Total aggregate indebtedness from statement of financial condition | લ્ત્વ | 158,024 | | 20. Percentage of aggregate indebtedness to net capital | | 13.57% | There are no material differences in the computation of net capital between this audited report and the unaudited Focus Report (Part IIA - Form X-17A-5). See Report of Independent Registered Public Accounting Firm {14}------------------------------------------------ ### SUPPLEMENTARY INFORMATION - CONTINUED ### Schedule II - Computation for Determination of the Reserve Requirements Under Rule 15c3-1 of the Securities and Exchange Commission ### December 31, 2023 The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on Footnote 74 to SEC Release 34-70073. {15}------------------------------------------------ ### SUPPLEMENTARY INFORMATION - CONTINUED ### Schedule III - Information Relating to the Possession or Control Requirements Under Rule 15c3-3 of the Securities and Exchange Commission ### December 31, 2023 The Company does not claim an exemption from SEA Rule 15c3-3, in reliance on Footnote 74 to SEC Release 34-70073 and did not maintain possession or control of any customer funds or securities at December 31, 2023. {16}------------------------------------------------ CohnReznick LLP cohnreznick.com ![](_page_16_Picture_1.jpeg) ### Report of Independent Registered Public Accounting Firm To the Managing Member Hudson Housing Securities LLC We have reviewed management's statements, included in the accompanying Exemption Report, in which (1) Hudson Housing Securities LLC (the "Company") identified the following provisions of 17 C.F.R. §15c3-3(k) under which the Company claimed an exemption pursuant to the provisions of Footnote 74 of SEC No. 34-70073 (the "exemption provisions") and (2) Hudson Housing Securities LLC stated that the Company met the identified exemption provisions throughout the most recent year ended December 31, 2023, without exception. The Company's management is responsible for compliance with the exemption provisions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about the Compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth in Footnote 74 of SEC Release No. 34-70073 for the year ended December 31, 2023. New York, New York February 27, 2024 {17}------------------------------------------------ # HUDSON HOUSING SECURITIES LLC 630 FIFTH AVENUE SUITE 2850 NEW YORK, NY 10111 Hudson Housing Securities LLC (the "Company") is a registered broker-dealer subject to Rule 17a-5 promulgated by the Securities and Exchange Commission (17 C.F.R §240.17a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. §240.17a-5(d)(1) and (4). To the best of its knowledge and belief, the Company states the following: - 1. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and - 2. The Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to: (1) broker selling tax shelters or limited partnerships in primary distributions; (2) broker selling tax shelters or limited partnerships in secondary market and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, (other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Rule 15c2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. Hudson Housing Securities LLC I, Joseph A. Macari, affirm that, to the best of my knowledge and belief, this Exemption Report is true and correct. Title: Chief Operating Officer Dated: February 27, 2024 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.