Showing posts with label bitcoins. Show all posts
Showing posts with label bitcoins. Show all posts

Sunday, October 7, 2018

Tales from the crypto: Thirteen East + West tokenized on blockchain

[Plywood rendering of Thirteen East + West]

An item of of interest from this past week about Thirteen East + West condos, the recently constructed twin residences on 13th Street between Avenue A and First Avenue.

The condoplexes are reportedly the first major assets in NYC to be tokenized on Ethereum.

Per Forbes:

Ryan Serhant ... is the listing broker on the deal. He and the developer are turning to tokenization as a new method of financing, which could serve as a better alternative for the project and investors.

Tokenization is the process of representing the ownership of real world assets digitally on a blockchain. This new method of financing is the result of the partnership between Propellr and Fluidity, two companies that have joined forces to offer compliant products and services for the creation, distribution, and transfer of digital securities.

[EdNote: I have no idea what any of that means.]

And a look at the residences...

[No. 442]

[No. 436]

Each 6-floor building features six full-floor, two-bedroom homes with prices ranging between $2.350 million and $3.7 million.

Previously on EV Grieve:
Tracking the coming changes to East 13th Street between Avenue A and 1st Avenue

A look at the new luxury condos coming soon to East 13th Street

Temporary art and future condos on East 13th Street

Demo time for East 13th Street garages that will yield to luxury condos

A look at the residences coming to Thirteen East + West on East 13th Street

Full exposures at Thirteen East + West

Monday, October 23, 2017

More details on Ben Shaoul's condo conversion Liberty Toye, where you can buy with bitcoins

A sidewalk bridge arrived back on Thursday to surround the soon-to-be-former Bloom 62 on Avenue B and Fifth Street.

Ben Shaoul, president of Magnum Real Estate Group, is in the process of redeveloping the rental property into a condoplex called Liberty Toye. (Read my post on this here.)

There's nothing on file with the DOB yet to shed any light on what work is going to take place here. (There is a permit for the sidewalk bridge.)

Shaoul recently announced that he will accept Bitcoin for Liberty Toye, where units will run between $700,000 and $1.5 million.


"Initially, we expect to see a small number of sales in bitcoins. But over the next five or 10 years, I could see up to 25 percent of payments happening in bitcoin or a like digital currency.

"It's going to be the future," he continued, "and a lot of developers will start to adapt and offer the same option."

Shaoul was also featured in this Global Mansion article on cryptocurrency in the global real-estate market.

"Our buyer has evolved, they've moved from mom and pops to young people who want to pay with various forms of payment. Cryptocurrency is something that has been asked of us — 'Can you take cryptocurrency? Can we pay that way?' — and of course when somebody wants to pay you with a different form of payment, you're going to try to work with them and give them what they want, especially in a very busy real estate market."

Shaoul ... admits that there is currently a lot of inventory in the market, and therefore having an edge over his competitors is especially key. Bitcoin, he hopes, will be that edge.

"I think the demographic of the crypto user is a younger millennial, but, that being said, you have a lot of people come over from other countries, who are buyers from different places, who like to trade in different types of currency. Not everyone wants to trade in dollars or yen or euros," Shaoul said.

And he claims there is already a lot of interest in Liberty Toye, though not necessarily from current renters or NYC residents.

Since he announced that he’ll accept bitcoin for purchases in his East Village project a few days ago, Mr. Shaoul said he’s received dozens of emails and calls expressing interest from overseas buyers in China and other Asian countries.

The Liberty Toye office will be at 44 Avenue B between Third Street and Fourth Street in a former laundromat owned by Steve Croman.

Before becoming a place for wealthy overseas buyers, the building at Fifth Street was home to Cabrini, which closed for good on June 30, 2012. The 240-bed center — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provided health care for low-income elderly residents in the East Village. Cabrini opened in 1993 and served 240 patients and employed nearly 300 people. Shaoul reportedly paid $25 million for the property and closed down Cabrini.

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

Report: Local politicians reach out to Ben Shaoul as re-sale of the Cabrini Nursing Center seems likely

More details on Cabrini's closing announcement

A look at the 'Hip young crowd planting roots at Bloom 62'

1st signs of Ben Shaoul's Bloom 62 going condo on Avenue B?

Tuesday, November 24, 2015

1st Bitcoin ATM arrives on the Lower East Side

Via the EVG inbox...

CoinSource, the secure BTM network with instant transactions, has unveiled the first Bitcoin ATM in New York City’s Lower East Side at 61 Delancey Street. Located within the N&N Delancey Smoke Shop, the newest CoinSource Bitcoin ATM joins a national network of secure, easy-to-use Bitcoin ATMs (BTMs) stretching from San Diego to Las Vegas to New York City. As one of 22 companies that submitted an application for New York’s BitLicense, CoinSource is permitted to fully operate in New York State.

The CoinSource BTM in the Lower East Side is located at 61 Delancey Street between Eldridge and Allen Streets ... The ATM can be accessed from 10 AM to 3 AM, 7 days per week.

The Lower East Side CoinSource BTM tenders instant bitcoin purchases with cash. In addition to providing the only the Bitcoin ATM machine south of Tompkins Square Park and East of the Bowery, the Lower East Side CoinSource BTM offers attractive rates to customers with standard fees at 7%, and with large purchasers and high-volume customers accessing even further reduced fee levels.

Oh, and in was you were wondering, there is one Bitcoin ATM that we know about in the East Village... at Le Village, 127 E. Seventh St. between Avenue A and First Avenue. This ATM is operated by a different vendor than the one on Delancey, and its hours are likely limited to when the restaurant is open. This machine has a fee of 15%, per the company website.

Wednesday, May 27, 2015

In case you wanted to buy bitcoins from a temporary ATM on East 6th Street

You're in luck! EVG regular Jose Garcia spotted this operation on East Sixth Street between Avenue B and Avenue C... the sign explains how it works...

Sunday, January 12, 2014

East Village may be home to city's first Bitcoin ATM

That's the word from the New York Post today. The co-founder of the company that makes the bitcoin dispenser says that he is in negotiations to install the $5,000 machine at Just Sweet, the bubble tea joint on Third Avenue and NYU East 12th Street.

Here's how the machine works, per the Post:

The machine, designed and manufactured in Portugal, looks like a typical deli ATM — but functions more like a vending machine. You put in dollars and receive bitcoins back on your phone.

Users first download a bitcoin wallet mobile app — such as BlockChain or Mycelium — and set a password. A black-and-white QR code appears. They press the phone against the ATM’s glass window so it can scan the code, then feed in cash.