389 East 89th Street

real estate trends, Technology

Bitcoin hits the NYC real estate market for the first time

By Michelle Colman, Thu, March 22, 2018

389 East 89th Street © Evan Joseph and an image of Bitcoin via Pexels

Yesterday, the New York Post reported that real estate developer Ben Shaoul of Magnum Real Estate Group has two units under Bitcoin contract at 389 East 89th Street–the first condos to use the payment method in NYC. One unit is a 624-square-foot studio that was asking $875,000, and the second is a 989-square-foot one-bedroom plus den that was asking $1.48 million. And according to Brick Underground, there are already a few very entrepreneurial landlords Brooklyn accepting Bitcoin for rent payment.

What does the future of Bitcoin and real estate look like?

Architecture, condos, Cool Listings, New Developments, Upper East Side

Magnum Real Estate Group, Paris Fornino

At First Avenue and 89th Street on the Upper East Side, 31 floors of spacious, light-filled homes have been reintroduced to the market. In a building previously known as the Post Toscana, 199 rental apartments have been upgraded and enlarged into 156  one- to three-bedroom residences fashioned by acclaimed interior designer Paris Forino. Now dubbed 389 E 89, the tower is the latest in a flurry of top-shelf rental buildings re-branded as affordable condos with high-end finishes.

All the info ahead


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