ARIZONA NEWS

Valley real estate agent lists luxury properties accepting cryptocurrency from buyers

Sep 29, 2021, 4:35 AM
(Photo illustration by Edward Smith/Getty Images)...
(Photo illustration by Edward Smith/Getty Images)
(Photo illustration by Edward Smith/Getty Images)

PHOENIX — A Valley real estate agent has listed four luxury condominiums with the seller allowing the option of cryptocurrency as payment.

The four condominiums located in Scottsdale range in price from $1 million to just over $2 million and are part of the portfolio of family investment group Hudye Group, according to a press release, with luxury estate specialist Johnathon De Young of Russ Lyon Sotheby’s International Realty representing the group.

“The seller realizes Bitcoin, Ethereum and digital assets, in general, are becoming a mainstream asset class,” Young said in the release.

“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.”

While only a few real estate transactions around the world have been closed using cryptocurrency, experts believe it will be commonplace in a few years, according to the release.

“At Hudye Group, we realize that digital assets and cryptocurrencies are becoming more and more commonplace for investors and buyers around the world,” Ben Hudye, of the Hudye Group, said in the release.

“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.”

Hudye added the properties attract a wide range of buyers not only locally but nationally and even internationally.

Stewart Title will serve as the escrow company for the transactions of the condominiums since transactions involving cryptocurrency have nuances, according to the release.

The four listings – which offer gourmet kitchens, high-end finishes, floor-to-ceiling glass and private balconies – can be viewed online.

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Valley real estate agent lists luxury properties accepting cryptocurrency from buyers