The Real Deal New York

Hedge funder willing to take Bitcoin for $16M UWS townhouse

Roy Niederhoffer says he’ll cover closing costs in hard currency
October 19, 2018 09:00AM

40 Riverside Drive, Bitcoin, Roy Niederhoffer

Roy Niederhoffer and 40 Riverside Drive (Credit: Neiderhoffer and Google Maps)

Hedge funder Roy Niederhoffer is looking to sell his Upper West Side mansion for $16 million, and he’s willing to accept cryptocurrency for the sale.

“I’m a big believer in Bitcoin,” Niederhoffer, president of R.G. Niederhoffer Capital Management, told Bloomberg. “I really am so bullish on it, and I want to own more of it.”

Niederhoffer listed his 10,720-square-foot home at 40 Riverside Drive with Sotheby’s International Realty’s Cathy Taub and Douglas Elliman Real Estate’s Dexter Guerrieri and Nicole Kats. The asking price is $15.9 million.

Niederhoffer purchased the home as three separate units for $12.9 million in 2013 as he and his family were starting a long-term construction project to renovate another house in Manhattan.

The home is unique in that it has exposure on three sides, allowing natural light to flood its interior spaces.

Niederhoffer will accept either cash or the equivalent in Bitcoin, and he said that if someone pays in cryptocurrency, he’ll cover the closing costs in hard currency.

“Whatever the obligations and brokers fees are, I would pay in cash and keep the Bitcoin,” he said.

A number of sellers and developers — like Ben Shaoul — are increasingly becoming more open to the idea of accepting Bitcoin and other cryptocurrencies as payment for real estate deals. [Bloomberg] – Rich Bockmann