Would You Buy This Townhouse for USD 30mln – or 45mln in BTC?
Paying in crypto now comes at a 50% premium, it would seem. Hedge fund manager Claudio Guazzoni de Zanett has decided to sell his 12,380 square feet (1,150 sq m), 7 bed, 14 bath home in New York for a measly USD 30 million. He will also accept crypto, says the ad – but then it’s worth the equivalent of USD 45 million.
Aside from BTC, he will also accept Ethereum and Ripple. This increase is to offset the volatility in crypto price, he said to Wall Street Journal: “I’m a true believer in these networks, but it’s very volatile. They could be down 60% in two weeks.” And he does seem to believe: according to his LinkedIn profile, he has founded Zanett Cryptocurrency Group in 2016, and appears to have been investing in cryptocurrencies and blockchain since at least 2015.
The 22-foot-wide, marble-and-limestone house at East 76th Street near Fifth Avenue has served as Mr. Zanett’s family compound since 1994. The house dates back to 1904 and includes an original vault in the basement area that extends under the street. “Fabulously situated,” as the ad says, on a block of the Upper East Side’s Gold Coast between Fifth and Madison Avenues, the question remains – is it really worth USD 45 million in BTC?
Interestingly, this is the same man who was slapped with USD 8,000 in summonses for advertising this very same home as a short-term rental only a year ago, according to New York Post. State laws forbid to even advertise short-term rentals in multiple-unit buildings for fewer than 30 days unless the owner is also living in the rented unit.
Perhaps your early investing portfolio in crypto has already gone to the moon, but let’s face it – you’d much rather buy yourself a garage of lambos for this amount. But if you’re still interested in the townhouse, here is how it looks:
