Newyork based property management company, Magnum Real Estate Group, will accept payments in Bitcoin for the sale of three ground-level shops located in Manhattan. The Bitcoin payment service provider, Bitpay, would be responsible for processing all the cryptocurrency transactions.
The mall, CODA, is located on the upscale of Manhattan, covers over 9000 square feet, and hosts M&T Bank, Mighty Pita Restaurant, and the ProHEALTH Urgent Care Clinic.
The Magnum Real Estate Group managing partner, Ben Shaul, expressed that their institution already had experience dealing with digital assets. Previous to this $29 million retail property, the organization has prior experience selling apartments through digital currencies.
Supporting the cause was the Chief Commercial Officer of Bitpay, Sony Singh. The CCO explained that customers from all over the world, including mainland China, can use Bitcoin to purchase the properties. The good thing with crypto is that it’s a global asset; all you have to do is scan a QR code to pay.
Suppose a client pays the entire $29 million in BTC. This would go down as the largest transaction in retail properties estate purchased via crypto. Currently, the record belongs to a deluxe penthouse in Miami beach’s oceanfront, which was acquired for a whopping 22.5 million dollars.
Similar Institutions Accepting Cryptocurrencies in Manhattan
The non-profit organization, Autism Science Foundation(ASF), has also announced accepting cryptocurrencies in donations. The digital assets supported at the moment are Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, USD Coin, and DASH.
ASF aids both children and adults who have autism in hopes that this new crypto inclusion will come in handy for this needy group.
“We are thrilled to expand our fundraising mechanisms to now include cryptocurrency, which allows both individuals and corporations yet another way to make a meaningful difference in the lives of people with autism.” President and co-founder of ASF, Alison Singer, tells.