January 16, 2018 | In the News
Bitcoin Can Buy Washington D.C. Real Estate
A newly-listed residential development offers a collection of four private residences with an option to purchase with Bitcoin
WASHINGTON, D.C. (January 16, 2017) – St James Place Condos, a four-unit residential development, has just listed in Washington, D.C. with an option to purchase using Bitcoin. The four individually-priced units can be purchased with Bitcoin, the conventional dollar or a combination of the two. The residential development located at 1471 Girard Street has been exclusively listed with The Alex Venditti Group of Coldwell Banker Residential Brokerage. View photos here.
Washington, D.C.-based development group Coloma River Capital originally purchased the property as a single-family home. The group converted the 1914 property into St James Place Condos, a modern, multi-unit building.
Two one-bedroom units with dens for flexible space conversion are located on the garden and terrace levels, listed for $589,900/36 Bitcoin and $679,900/42 Bitcoin; respectively. Exact Bitcoin prices vary according to the current trading rate and will be converted from dollars upon purchase. A large two-bedroom unit located on the third floor is listed for $689,900/43 Bitcoin, and a spacious two-bedroom penthouse is listed for $999,900/61 Bitcoin. A 306-square-foot rooftop terrace offers sweeping views of the city and is exclusive to the penthouse unit.
In the renovation, the developers aimed to create a clean pallet, while still preserving some of the original details in the 104-year-old building. An accent wall in the building’s foyer and stair-tower is made with reclaimed wood, original to the home. As it stands today, each residence is equipped with soapstone counters, high-end stainless-steel appliances, white oak hardwood floors, custom steel and frosted-glass wall separators and recessed lighting. The units offer an efficient use of space and plenty of natural light throughout.
QUOTES:
“This is the first time in Washington, DC that we’re aware of, that Bitcoin is being accepted as a form of payment within a real estate transaction. The developers recognize that people are changing the way they invest and buy property and are meeting that untapped demand.”
--Alex Venditti
“Bitcoin has flourished so dramatically that if an investor had purchased the cryptocurrency at its start, their investment would have soared astronomically at today’s value. That’s why we’re offering the development for purchase with Bitcoin—we see a real value in the investment in the currency and want to provide Bitcoin investors with a chance to turn their currency into a tangible asset.”
--Charles Paxton Paret, managing partner, Coloma River Capital
Coldwell Banker Residential Brokerage, Mid-Atlantic is a leading residential real estate brokerage company with 30 sales and resort rental locations and more than 2,250 sales associates serving the communities of Greater Baltimore, Greater Washington, D.C. including Northern Virginia, and the Maryland and Delaware Beaches. Coldwell Banker Residential Brokerage is a subsidiary of NRT LLC, the nation’s largest residential real estate brokerage company. Worldwide, the Coldwell Banker network includes 3,000 offices with nearly 85,000 sales associates.