Magnum Real Estate Group to accept Bitcoin for its NYC property

Available to let at 385 First Avenue, commonly known as CODA, is over 9,000 square feet of retail space. Current occupants of the property include M&T Bank, Mighty Pita, and ProHEALTH Urgent Care.

Some of the apartments were paid for in cryptocurrency and the developer noted that buyers would be able to access instant cash flow because the units are entirely built out and currently earning money.

Ben Shaoul, a Managing partner of Magnum with a $4 billion portfolio said:

CODA becomes the first significant profit-making asset available to Bitcoin enthusiasts, courtesy of this initiative. Judging from the $29 million valuations, the properties are valued at roughly 641 BTC at the current market rate.

Meanwhile, the co-founder and executive chairman of property portal Juwai IQI Group, Georg Chmiel, said:

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Source: Cryptocurrency -

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