The Owner Of A $6.5 Mln Greenwich Mansion Will Take Bitcoin Or Ethereum Cryptocurrencies As Payment For The Property.

2022-05-03 | Selina Mathew

The Owner Of A $6.5 Mln Greenwich Mansion Will Take Bitcoin Or Ethereum Cryptocurrencies As Payment For The Property.

If this property listing is any clue, Connecticut's Gold Coast may soon become the Cryptocurrency Coast.

The proprietor of a Greenwich mansion is prepared to take cryptocurrencies as payment for its $6.5 million seeking price, according to an agent, in what is believed to be the first such listing in the rich town.

The history of the undisclosed owner justifies the odd offer, as well as their confidence level in accepting bitcoin or Ethereum cryptocurrency for the 4.3-acre farmhouse property on Bedford Road, which goes dating to the early 1800s.

Bitcoin, as well as Ethereum values, are extremely unpredictable, having fallen by over 19% since the start of 2022.

If a buyer utilizes cryptocurrency to buy the property rather than cash — which is still a possibility for payment — the seller accepts the risk of a subsequent large drop in price if she does not promptly sell the cryptocurrency for cash.

Recognizing this danger, a handful of previous real-estate postings that included cryptocurrencies compelled the buyer to change the cryptocurrency to cash prior to the deal closed.

However, the ad for this property states unequivocally, in all-capital-letters style at the conclusion of the estate characterization: "SELLER WILL ACCEPT CRYPTOCURRENCY."

According to Sneddon, the vendor plans to keep the cash in cryptocurrencies.

Sneddon thinks that the property's cutting-edge features will entice a buyer, and that his seller's willingness to accept payment in digital currency would bring his listing to the notice of freshly minted cryptocurrency billionaires.

The knowledge that the seller of the Greenwich house will take cryptocurrency at conclusion has increased interest in the historic home in the form of publicity and queries from interested potential purchasers.

However, according to Sneddon, his "private-minded" seller isn't eager in all of the extra focus focused on her.

The name of the homeowner is not revealed via public records.

As per the Multiple Listings Network, the property was last sold in 2009 for $5.68 million.

According to public records, it was purchased by Bedford Road Holdings, a limited liability business. LLCs are frequently formed to conceal the real owners of real estate.

The seller at the time was Anson McCook Beard Jr., a retired Wall Street executive and the brother of the deceased photographer as well as artist Peter Beard.

Beard worked with Morgan Stanley for many years. He was employed in 1977 to create the investment bank's private client services section, as per the firm's website.

The property for sale is located on Greenwich's northern outskirts, barely approximately 200 feet from Connecticut's boundary with New York state.

Sneddon referred to the region as the equestrian countryside, a part of town where neighbours had a third, fourth, or even fifth home left away for weekend getaways.

The Levi Ireland House, located at 241 Bedford Road, was erected in 1835 as well as being a Greenwich-designated landmark, according to the agent.

The main residence is about 4,200 square feet in size, with five bedrooms, three bathrooms, and a powder room.

A carriage house with three bedrooms, a one-bedroom guest cottage, and an antique barn are also on the site.

The "party barn," as the listing refers to it, is connected for power however otherwise has an incomplete interior.

Whilst it's a terrific place to host a party, Sneddon believes the future owner could want to turn it into horse stables.

To put it another way, a much has happened on the estate while Andrew Jackson was president.

Sneddon stated that his customer informed him that the German carmaker-designed lights charged her $2,800 per light as well as that the Covid-19 pandemic motivated most of her high-tech purchases.

Previously to the epidemic, his cryptocurrency-trading customer and her family lived in Manhattan, however, when the city was shut down, they relocated to their Greenwich home.

Sneddon explained that it was critical for the owner to be ready to trade cryptocurrency in real-time from everywhere on the property, including the poolside lounge chairs, therefore she outfitted the home with a top-tier Wi-Fi system that offers high-speed internet to every part of the huge estate.

In addition, the homeowner built a Covid-based heating and cooling system with a virus-killing infrared air filter


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