Once upon a time, cash was king in New York real estate.
Now the seller of a sprawling Upper West Side manse is encouraging wannabe buyers to keep their bucks and submit their offers in Bitcoin instead.
Hedge funder Roy Niederhoffer tells The Post he’s so bullish about the volatile cryptocurrency, he’s willing to eat the closing costs on the 10,720-square-foot, 32-foot-wide home at 40 Riverside Drive. He’s asking $16 million but would really prefer 2,493 Bitcoin.
“I’ve historically been a big believer in Bitcoin and been very vocal about that, and my rationale for wanting to own significantly more is unchanged,” says the married dad.
One unit of the electronic currency is currently valued at about $6,442 (although it fluctuates day to day), which marks a steep decline from its December 2017 high of nearly $20,000. Nevertheless, Niederhoffer says he’s doubling down on digital dough.
In fact, he regrets not buying more back in 2012, during his early forays into the crypto market.
“I was an early adopter to Bitcoin, and no one who was an early adopter bought enough of it back then,” he says.
Niederhoffer says he’s happy his unusual property listing is attracting attention from high-end house hunters, even if he feels like a bit of a financial guinea pig.
“I’m hopeful — I’m the test case for a big sale,” he says.
Bitcoin transactions haven’t exactly panned out for other pricey properties.
A five-bedroom home in Westport, Conn., hit the market in May with an asking price of 250 Bitcoin — the equivalent of $2 million at the time — with the sellers refusing to accept other forms of payment.
The price has since dropped to $1,588,000, and cash and conventional financing is now allowed.
Niederhoffer is confident the right buyer will come along.