Sunday 21, October 2018 by Bloomberg

Roy Niederhoffer will accept bitcoin for $15.9 million mansion

 

The house is listed for $15.9 million. Niederhoffer will accept either cash or the equivalent in bitcoin.

In 2013, Roy Niederhoffer, the president of New York-based R.G. Niederhoffer Capital Management, Inc., needed a place to live. He’d begun a long-term construction project to renovate a house in Manhattan, but in the meantime, he and his young family were living in a rental nearby, a situation he says was short-term at best.

When he saw that all three units of a mansion on Riverside Drive were up for sale simultaneously, he jumped. “It’s a house that I’d admired for decades as one of the greatest houses in New York. To see that it was up for sale was very exciting, and it had come down tremendously in price.” Together, the three units at 40 Riverside Drive cost Niederhoffer about $12.9 million, according to StreetEasy.

Five years later, his original renovation project is finally complete, so Niederhoffer is reluctantly placing the 10,720-square-foot, 32-foot-wide mansion on the market with Cathy Taub of Sotheby’s International Realty and Dexter Guerrieri and Nicole Kats of Vandenberg at Douglas Elliman Real Estate. The house is listed for $15.9 million. Niederhoffer will accept either cash or the equivalent in bitcoin.

“I’m a big believer in bitcoin,” he says. “I really am so bullish on it, and I want to own more of it.”

Were someone to pay in the cryptocurrency, Niederhoffer says, he would simply cover his share of the closing costs in hard currency. “Whatever the obligations and brokers fees are, I would pay in cash and keep the bitcoin,” he says.

It’s a uniquely contemporary development in a house that’s steeped in history.

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