ARTE by Antonio Citterio, and ultra-exclusive condominium development in Miami’s Surfside neighborhood, has sold its 9th floor penthouse for $22.5 million. The deal took 10-days to close and was an all-cryptocurrency deal.
The sale was the largest real estate purchase with crypto assets in Florida’s history, according to the website bitcoin.com
With the sale, the 5,067 square feet penthouse with a 2,960-square-foot terrace oceanfront views, takes up the entire 9th floor of the 12-floor building and established a record sales price for the area at $ 4,440.50 per square foot. It is also the second-highest real estate transaction in the city of Miami Beach since 2017
The sale came just a few weeks after the developer announced that it would accept digital assets as payment. Arte was developed by Alex Sapir and Giovanni Fasciano.
In a statement, Fasciano said, "Cryptocurrency is the future of wealth, and we believe this is only the beginning."
"There is strong pent-up demand for cryptocurrency transactions that are fluid and secure for both parties, and this agreement is a prime example of that," said Sapir, president of Sapir Corp LTD. “We are very pleased with the number of calls we received from qualified buyers just after announcing our ability to facilitate cryptocurrency transactions at Arte's condominiums. Clearly investors around the world are paying attention when new trading opportunities open up.”
The sale comes just as Bitcoin 2021, a cryptocurrency mega conference, was held in the City of Miami where Mayor Francis Suárez is on record with his intention for the city to adopt this form of payment.
The penthouse features 360-degree views of the ocean, four bedrooms, four bathrooms, a wine-tasting bar. Additionally, the new owners get access to an indoor and outdoor swimming pool, a sauna, steam room, rooftop tennis court, a gym, and a yoga studio.
Parking spaces in the building are temperature-controlled and the condo also offers a toddler’s playroom and catering staff.
Prices at Arte by Antonio Citterio start at $ 10.8 million.
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