The Cryptocurrency Option Gives BuyersMore Options in This New Digital Era
Luxury Estate Specialist Johnathon De Young of Russ Lyon Sotheby’s International Realty, Arizona’s leader in the luxury market, is pleased to announce the availability of four extraordinary condominiums giving buyers the option to pay in cash, finance or cryptocurrency, specifically Bitcoin or Ethereum. To date, only a small number of real estate transactions around the world have closed using Bitcoin or Ethereum, but some experts think it will be commonplace in a matter of a few short years.
While rare, the use of cryptocurrency is available to buy real estate in Arizona and around the world, when sellers are willing to accept it. Bitcoin is considered a form of property, of sorts, and like all real estate transactions, both the buyer and seller have to agree on the terms, and the currency that the parties will use. In this case, the currency happens to be a digital currency. There are nuances to this type of transaction, such as having a title company who is versed on how to process the transaction. Stewart Title, which has experience in Bitcoin transactions, will serve as the Escrow Company for the transactions.
The seller realizes Bitcoin, Ethereum and digital assets, in general, are becoming a mainstream asset class. And it seems only appropriate for a substantial investment group to begin dipping its toes in what is likely some of the greatest financial innovation of our lifetime.
Johnathon De Young
De Young is representing the Hudye Group, a family investment group who is selling a portion of its portfolio. The group is excited to accept cryptocurrency, as well as traditional cash and finance options. The condos will range from the mid $1 million to $6 million range.
At Hudye Group, we realize that digital assets and cryptocurrencies are becoming more and more commonplace for investors and buyers around the world. We want to help facilitate a transaction that is mutually beneficial to all parties involved so we are extremely pleased that we can offer some of the finest in luxury high-rise condominiums for sale, with the flexibility that Bitcoin and Ethereum provide. These are properties that are highly sought after and will attract a wide range of buyers locally, nationally, and even internationally.
Ben Hudye, of Hudye Group
The first luxury condominiums to hit the market include a penthouse unit and are located in the Optima Camelview Village in Scottsdale, Arizona. Ideally situated in a prime location in Scottsdale across from Scottsdale Fashion Square and near Old Town and the Entertainment District, the Optima Camelview Village offers state-of-art amenities and luxurious accommodations.
Ranging in price from the mid $1 million to the low $2 million range, these two bedroom condos are available turnkey furnished. The condos offer gourmet kitchens, high-end finishes including marble countertops, hardwood floors, floor to ceiling glass, spectacular views, private balconies and 24-hour access to the on-site amenities.
De Young says the market is extremely favorable right now for Optima Camelview Village sales and this type of transaction. “Inventory is very lean and there is a tremendous amount of demand right now for this type of product. When you combine the quality and desirability of these particular condos, along with the walkability, shopping, dining, ease to the airports, it is very well possible we could see our first real estate transaction in Scottsdale using a digital asset,” said De Young.
