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Manhattan Mansion Goes up For Sale For Bitcoin

Samantha Mitchell

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real estate and bitcoin

With the current market prices being a guide, you will need 2,500 Bitcoin in order to own the prestigious house being sold by a hedge funder located at the affluent 40 Riverside Drive in Manhattan.

Looking To HODL Bitcoin Payment

real estate

Bloomberg has reported that Roy Niederhoffer who is the president of Nierderhoffer Capital Management Inc., based in New York, has put his Manhattan mansion up for sale for Bitcoin. The mansion which is located in an affluent neighborhood and which boasts of six floors and 10,720 square foot has been put on the market for US$15.9 million, which translates to 2,500 Bitcoin in the current Crypto market.

Although Niederhoffer has said that cash is also going to be accepted, he has registered a preference for Crypto and has said that as a believer in Crypto he is looking to HODL if the final buyer makes the purchase in Crypto stating that he will be meeting the brokers fees and any other obligations in cash and keeping the Bitcoin.

Having been finished in the last legs of the 19th Century, the 40 Riverside Drive mansion boasts of a Hudson River view as well as the view of a nearby park.

The Best Payment Alternative For Real Estate Sector

It has become more common for interested parties to make purchases in real estate using Bitcoin in recent years. Barbara Corcoran who is a real estate mogul and who also features in the Shark Tank has been quoted as saying that Crypto has created the perfect way to purchase real estate as they not only cut out the middlemen but also lower the prices of real estate making them more affordable.

In a past interview, Barbara Corcoran stated that she was optimistic about Crypto in the long term as it was a perfect mode of payment for the real estate sector.

Niederhoffer has not been the first hedge funder to put up his real estate in the market with a preference of Crypto as a mode of payment. A few months ago Claudio Guazzoni de Zanett, who is a hedge fund manager, put up his Manhattan townhouse for sale for US$30 million in cash or US$45 million for those willing to pay in Crypto. Zannett stated that the extra US$15 million was a cushion for any volatility in the market. he was not only accepting Bitcoin but also Ethereum and Ripple as well.

Crypto Based Real Estate Firm

The trend of selling real estate has not only been seen in the United States but also in other parts of the world with an example being the listing in Malta of a palatial house for US$3 million earlier last month. The seller of the palatial house strictly preferred for payment to be made in Bitcoin.

The house was listed by CryptoHomes.io which is a startup that is aimed at selling its listed properties for Crypto. The firm has stated that its aim is to show that Crypto can also be used in the purchase of tangible assets and are not only useful as speculative assets.

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