New York's First Luxury Apartments Purchased With Bitcoin

by Stephanie Maida · April 5, 2018

    As if finding a decent place in the city wasn't hard enough, buyers might actually have to start dealing with cryptocurrency. Maybe it really is the money of the future.

    New York's first real estate purchase via bitcoin has officially gone down, thanks to Magnum Real Estate Group. According to the New York Post, developer Ben Shaoul is in contract to sell two Upper East Side units in a high-end condo conversion at 389 E. 89th St. for the mysterious (and may we add, volatile) digital dough. One is a 624-square-foot studio asking $875,000, and the other is a 989-square-foot one-bedroom going for $1.48 million.

    Of course, the transaction will be going through a third party, BitPay, to convert the currency into cold hard cash. "It wasn’t easy, but we are doing it," said Shaoul. Who knew real estate agents were so privy to the goings-on of the dark web?

    [Photo via Street Easy]