November 12, 2019 by Océane
The fever of the crypto-currency begins to win the american real estate sector. And for proof, a famous real estate developer has recently sold an apartment of prestige in the wealthy area of the Upper East Side, New York, for $ 15.3 million in Bitcoin.
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A condo sold in Bitcoin
The Magnum Real Estate Group, a real estate agency owned by the developer Ben Shaoul had already sold two apartments of 875 000 and $ 1.48 million $ in Bitcoin in the past. Recently, the real estate agency has decided to renew the experience by disposing of an apartment on the Upper East Side for $ 15.3 million in Bitcoin to a rich buyer in taiwan.
According to the site specializing in the Real estate Deal, in order to finalize the transaction in crypto-currencies, the Magnum Real Estate Group would have appealed to the payment processor Bitpay and Starr.
The estate agency has never hidden his admiration for Bitcoin and the blockchain, two technologies which help to streamline financial transactions in the sector.
“When you send the Bitcoin, it is the peer-to-peer, so you don’t need to go through the banking process, which can take three to four days (in this last case),” stressed Eric Hedvat, broker at Magnum.
The Bitcoin will become increasingly popular in the real estate
In recent years, the list of real estate agencies, accepting payments in Bitcoin has continued to grow. Thus, a u.s. agency have recently announced the support for transactions in “Bitcoin, Ethereum, and Ripple” for the purchase of a manor-house of five storeys and located in the upper East Side.
In Dubai, the real estate project Aston Plaza of 289 million euros to build two buildings, has announced to sell the entirety of its 1,300 apartments in crypto-currencies.
Last October, an owner, who has put on the market a church converted into a luxury residence, has specified the terms and conditions in the case of a payment in Bitcoin.
“The seller is willing to accept the crypto-currency Bitcoin (BTC) as payment method.The final sale price in BTC should be agreed and confirmed with the seller and will depend on the listing of BTC on the market at the time of the sale”, he said.
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