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Real Estate Magnate Sells New York Condo For $15.3M In Bitcoin

• by Marie Huillet

Shaoul - who is president of the Magnum Real Estate Group - sold the 11,400-square-foot property to a Taiwan-based entity "Affluent International LCC," according to a person familiar with the deal.

Luxury properties increasingly bought and sold for BTC

While Shaoul himself has reportedly declined to comment, Eric Hedvat — a broker with Jet Real Estate, which represented Magnum in the deal — characterized the transaction as "a seamless process."

Magnum reportedly went into contract with two other buyers in the same building using Bitcoin in 2018 — one for a 624-square-foot studio at an asking price of $875,000 and the other a 989-square-foot one-bedroom at $1.48 million.

Another of Shaoul's residential developments had been listed with an option to purchase using Bitcoin but was eventually sold for cash to Bronx-based investor Martin Shapiro last year for $82 million.