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New York City’s First Apartments Sold For Bitcoin in UES

Bianca Bahamondes Bianca Bahamondes

New York City’s First Apartments Sold For Bitcoin in UES
Magnum Real Estate Group is selling two apartments on the Upper East Side for bitcoin.

Developer Ben Shaoul entered a contract for this sell, making it the first apartments in NYC to be purchased using bitcoin. According to first reports by the New York Post, the exchange is going through the third-party service BitPay in order to convert the bitcoin payment into dollars.

Magnum’s Executive VP, Stuart Marton, told NYPost “It’s like a currency exchange. They accept the bitcoin and give us the dollars.”

The properties being sold are located between First and Second Avenue, at 389 E. 89th Street.

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featured image source: Street Easy / 389 East 89th Street Listing