Hedge Fund Manager Says He Will Take Bitcoin for His New York Mansion

October 25, 2018 James Heinsman Hedge Fund News


The Beautiful Grant’s Monument, Riverside Drive, New York City.

Roy Niederhoffer, president of hedge fund manager RG Niederhoffer Capital Management, needed some digs in 2013. He was renovating a Manhattan house that he owned, and he was living in a rental, but he was not happy with the situation.

As luck would have it, all three units that of a mansion that Niederhoffer had been admiring for years came up for sale at the same time. Not one to miss an opportunity, he grabbed the property for $12.9 million, a price he felt was a bargain after the price for all three units had fallen substantially.

Now five years have passed, and he is ready to move into is newly renovated home. With reluctance he is selling the 10,720-square-foot, 32-foot-wide dwelling for $15.9 million. He says he will take cash, or if the buyer prefers, bitcoin.

Niederhoffer is so happy to take bitcoin in exchange for the mansion that he says he will cover his share of the closing costs in regular money. “Whatever the obligations and brokers fees are, I would pay in cash and keep the Bitcoin,” he explained.

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

The townhouse is located at 40 Riverside Drive, on West 76th Street. It was built in 1897 and has been owned by several interesting and wealthy landlords. At one point in its history the dwelling was divided into three separate units. Niederhoffer, although he is sorry to part with this unique property, has priced it to sell.

Roy Niederhoffer,

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