Yankee Stadium Views Payable in Crypto!

Source: Carrillo Group

Coming in at $475,000 USD, a 19th floor, 3 bed/2 bath condo with 1200 square feet could be yours, including if you want to pay in crypto! Maintenance charge totals $1,410 per month, which includes real estate taxes and all utilities. We're going to assume those need to be paid in fiat :)

The listing notes state:

"A foodie’s dream, the recently renovated high-end kitchen features quartz countertops, stainless steel appliances, soft-close Shaker cabinets, touchless faucet, under-cabinet lighting, and has an open window into the living room extending your line of sight. Make it a true “movie night” with the professionally installed ceiling projector and retractable screen. The layout provides flexibility with each room in a different corner off of the living room. The master bedroom has a private full-bath ensuite. The second bedroom is bigger, has a custom closet, and enjoys unobstructed sunsets. The 3rd bedroom provides north & west views and can easily convert to an office, gym, dining room, or sanctuary. Tall closets (9 in total!) in every room, bamboo floors throughout, individual room heat and A/C controls, and motion sensor entry light add to your overall comfort."

Other amenities include a doorman, paid valet parking, and pets up to 20 pounds. The coolest feature in my opinion, views and sounds from Yankee Stadium directly from the balcony. Doesn't hurt that they're also really good right now.

Source: Carrillo Group

“This is the perfect property for this type of transaction at an incredible price point. We are thrilled to be able to offer this unit to a new generation of investors and buyers,” Robert Carrillo, listing agent.

This transaction crypto element comes courtesy of The Crypto Realty Group, a Los Angeles-based firm specializing in crypto sales. Piper Moretti, Founder and CEO says, “We’ve been doing these deals for years and have a go-to escrow company who will work as a sub-escrow to any title company in the country to handle these. Even in the bear market, crypto is still a viable transactional tool and savvy investors understand that."

It's very unclear where New York's motives truly lie regarding cryptocurrency, from the State down to the city. The Mayor of New York City, Eric Adams, claims to want New York City to be the epicenter of crypto. He's also gone so far as to ask the Governor not to veto a bill focused on Bitcoin miners using POW (Proof Of Work), in favor of Proof Of Stake. The bill was recently passed by the State Senate, and now sits on the Governor's desk. The bill seeks to place a two-year moratorium on miners, which is much like the legislation going on across the Country, more legislation written and voted on by those who know very little about cryptocurrency. Vitalek Buterin, a co-founder of Ethereum told a crowd in France last week that the merge from POW to POS is only 55% complete.

It's also hard to tell where Adams truly stands with crypto when stories like this come to light. We are all aware that he took his first few paychecks in crypto, but we can only speculate as to his true intentions.

The very idea of crypto millionaires buying real estate in the city is even troubling for some in the media. Some are really irritated with Adams aligning with cryptocurrency in general. Whatever the case, and whatever the intentions, buyers are interested in transacting their real estate purchases with crypto.

Magnum Real Estate Group Magnum Real Estate sold a condo in 2019 to a Taiwanese buyer on E. 89th Street. In 2020 they listed three retail condos with the only caveat being that the buyer pay in Bitcoin. Developer Ben Shaoul’s of Magnum has sold more than $25 million worth of commercial and residential real estate in cyber currency, he told The New York Post.

Clearly there is appetite in the Big Apple from real estate developers, to crypto companies, to investors, to buyers, could make New York a leader in the crypto industry. It's up to the government how this plays out, but in the meantime, the State of Texas is certainly doing its best to sway the industry in their direction.

Joe Steele
In addition to investing in and selling real estate, Joe is also a crypto investor, running a blog and YouTube Channel, “Crypto and the House”, focusing on all things real estate and crypto.
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