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

Roy Niederhoffer says he’ll cover closing costs in hard currency

TRD New York /
Oct.October 19, 2018 09:00 AM
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


Related Articles

Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Elsa Segura (left) was arrested in connection to realtor Monique Baugh's (right) murder (Credit: iStock)

Second suspect charged in real estate agent’s abduction, murder

Clockwise from top left: John Gomes, Ronita Kalra, Eric Beniam and McKenzie Ryan (Credit: Getty Images, iStock, Wikipedia)

“We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

157 West 57th Street (Credit: iStock)

One57 condo with reduced ask tops a slow week of luxury contracts

Clockwise from top left: 730 Fifth Avenue, Unit #PH21; 730 Fifth Avenue, Unit #18A; The Pierre, Unit #3101; and The Park Imperial, Unit #64

Priciest homes listed last week include $60M pad at Crown Building

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years