bitcoin

Cool Listings, Interiors, Upper West Side 

This 10,720-square-foot, 32-foot-wide mansion with Riverside Park as a backyard and river views was built in 1879 as part of the Upper West Side‘s “gold coast.” When hedge fund manager Roy Niederhoffer purchased the home for $12.9 million in 2013, it had been split up into multiple units. Niederhoffer restored the six-story home to its original mansion-style glory and is now selling the home for just under $16 million. The grand home at 40 Riverside Drive is possessed of the city’s third largest ballroom in a private house, and as Bloomberg reports, the seller is accepting bitcoin, as he’s a fan of the cryptocurrency.

Tour this impressive West Side manse

Cool Listings, Upper East Side

Last month, New York City had its first cryptocurrency real estate closing. The next week, an owner of the Plaza floated the idea of selling a “Plaza Token” to a group of foreign investors. Now, hedge fund founder and tech investor Claudio Guazzoni de Zanett, the owner of the landmarked townhouse at 10 East 76th Street, is asking one price in US dollars and a higher value in digital currencies due to their volatility. He is willing to accept bitcoin, Ethereum or Ripple. “I’m a true believer in these networks, but it’s very volatile,” Zanett told the Wall Street Journal. “They could be down 60% in two weeks.”

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Featured Story

Features, real estate trends, stuff you should know, Technology

NYC skyline via Pexels; Bitcoin via Pexels

Just when you think you understand the world of cryptos, all you understand is how little you know. And when you do actually master a topic, it will change. Which is why to get you started, we’ve put together a 101 guide to cryptocurrencies and real estate transactions. From the technology behind digital currencies such as Bitcoin to their risks, the real estate market is ripe for potential when it comes to this burgeoning market.

Get your primer ahead

Central Park South, real estate trends, Technology

Photo via Wally Gobetz/Flickr

Cryptocurrencies make the wild west look tame. Yet despite their volatility, they’re becoming more of a presence in NYC real estate. Five days ago, when we reported on the first Bitcoin closings in Manhattan, the value of Bitcoin was $8,592. It is currently $7,999. According to a CNBC report, Chimera, a group of foreign investors interested in buying the Plaza Hotel, is considering offering partial payment for the transaction in a new cryptocurrency. Chimera has proposed the creation of the “Plaza Token,” an asset-backed securitized token, to raise more than $375 million. They are being advised about this initial coin offering by a company called Securitize. “This would give cryptocurrency investors the chance to diversify into luxury real estate and receive certain concessions inside the Plaza Hotel,” CNBC reports.

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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?

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