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UES Townhouse on Sale for $45M in Bitcoin Currency; Equals $30M in US $$$



A six-story townhouse on New York’s Upper East Side is listed for sale for either almost $30 million in US dollars or $45 million in cryptocurrency, the Wall Street Journal reported.

Big time hedge fund manager and block chain investor Claudio Guazzoni de Zanett said that he will accept Bitcoin (BTC), Ethereum (ETH), or Ripple (XRP) for the property. He noted the reason for the higher price in crypto–$45 million vs. $29.95 million–is due to the crypto market’s volatility. “I’m a true believer in these networks, but it’s very volatile. They could be down 60% in two weeks, “ de Zanett told the Wall Street Journal.

Another view of the Easy 76th St Townhouse (Photo Jv Media)

De Zanett said the property offers panoramic views from it’s rooftop terrace and high ceilings and a lot of light. The property is around 12,380 Sq. feet with an additional 2,500 sq. feet of outdoor space and is located on East 76th St near 5th Ave. It is divided into several apartments and dates to 1904. There is an original vault in the basement that extends under the street that was once used to store coal for heating the house, WSJ reported.

Zannet founded hedge fund Zanett Asset Management in 1992 and in 2015 founded Lyster-Zanett, which his LinkedIn describes as a “multi-manager Master/Feeder Hedge Fund focusing on US small/mid-cap equity markets + Cryptocurrency and BlockChain investments.”

The townhouse currently listed had made the news last March when Zanett and his wife were fined $8,000 for listing rooms online as rental units for short-term stays of less than 30 days, which is illegal in New York. NY is unfriendly to Airbnb offers

Cities across the world are beginning to have properties listed in cryptocurrencies, as Bitcoin arguably brings a certain hype to a real estate deal. Cointelegraph reported on five cities where you could use crypto to buy real estate last fall, including Miami, Dubai, New York, Lake Tahoe, and Bali, coin telegraph reported

Bitcoin-only property deals have also come up, including a UNESCO World Heritage site reported to be on sale in Ibiza last November for 1,850 BTC, and a Caribbean island was listed last December for 570 BTC.

By Victor Hazan

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