A Manhattan Beach property is making waves by accepting Bitcoin or USDC, signaling a shift in luxury real estate. Is this the future of property deals?
Hold on to your hats, folks! The real estate scene in Manhattan Beach just got a whole lot more interesting. Forget the usual mortgage hustle; we're talking crypto deals by the beach. A multifamily property in El Porto is up for grabs for $12 million, and the seller is willing to take Bitcoin or USDC. Talk about a sign of the times!
A Beachside Bitcoin Bonanza
This isn't just any property; it's a 14-unit building approved for short-term rentals, steps from the sand and some of the swankiest addresses around. Represented by Elaine McIntyre Kim and Tom Watkins of Centennial Advisers, this place is already raking in Airbnb income. But the real kicker? It could be the largest crypto real estate deal in California history.
Why This Matters
Sure, crypto in real estate isn't brand new, but deals of this magnitude? Rare as hen's teeth. The seller is even locking in the USD conversion rate at escrow. Guaranty Escrow, the only U.S. escrow provider approved by BitGo, is backing the deal, adding some serious credibility to the digital transaction.
The Bigger Picture: Crypto and Real Estate
This Manhattan Beach listing aligns with the rise of blockchain finance. High-net-worth individuals are increasingly eyeing crypto for property purchases. California has seen a steady trickle of crypto-funded luxury sales, but this one? It's got location, location, location, and a setup that's hard to beat.
Is This the Future? My Two Satoshis
While it's tempting to see this as a one-off, I think it's a glimpse into the future. As crypto becomes more integrated into our financial lives, we'll see more of these deals. The key is trust and infrastructure. With established escrow services and growing acceptance, crypto could become a viable option for savvy buyers and sellers. Look at Donald Trump, for example. He's leveraging crypto ventures, and though controversial, it illustrates the potential shift from traditional real estate to digital assets.
El Porto: More Than Just Surf
El Porto is one of the most desirable spots in Manhattan Beach. Known for its surf scene, walkability, and limited inventory, it's a hot ticket. With celebrity-owned homes and high demand for beach rentals, listings like this don't pop up often. The existing income stream and STR status? That's just icing on the (crypto) cake.
So, What's Next?
This listing is being marketed privately, but buzz is building. Elaine McIntyre Kim calls it a milestone, a blend of digital assets and beachside real estate that marks a new chapter for California's market. Will it set a trend? Only time will tell. But one thing's for sure: Manhattan Beach just became a whole lot more crypto-friendly.
Who knows, maybe one day you'll be buying your beach house with Dogecoin. Until then, keep your eye on the market, and maybe start brushing up on your Bitcoin wallet skills!
