Miami Penthouse Selling for Bitcoin Only

The low price of one Edgewater condominium is attracting attention for a unique reason: The seller is only accepting bitcoin as payment, according to Market Watch.

The condominium is being listed on real estate site Redfin Corp. for 33 bitcoin (well over Miami’s “median bitcoin price”), which equals about $542,000. Curbed Miami is reporting that the residence is located in Edgewater at Platinum Condominium, which is a 22-story, 119-unit building completed in 2007. The building has a fitness center, infinity pool, spa, and party room.

The unit has one bedroom and one and one-half bathrooms, views of Biscayne Bay, a European-style kitchen, and wood floors. Records show the owner is Ciro Fodere, a pianist and founder of Notegarden, which allows musicians to find competitions. The residence was purchased in 2016 for $315,000.

Although about 75 owners listing properties on Redfin have said they will accept bitcoin as payment, this listing is the only one with a “bitcoin only” payment specification. It is also reportedly the only one of its kind in Miami-Dade County. Other homes in South Florida that buyers can use bitcoin (along with more traditional financing) to purchase are a four-bedroom home on Miami Beach’s Hibiscus Island selling for $2.45 million (about 150 bitcoin) and a townhouse in Miami is selling for $338,878, which is just about 20 bitcoin.

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