Bitcoin investor lists Miami home for $6.5M, will accept Bitcoin

Bitcoin investor lists Miami home for $6.5M, will accept Bitcoin

Wednesday, August 16, 2017

Mike Komaransky and his home at 7350 Southwest 47th Court

Do you take Bitcoin?

Michael Komaransky, an early investor and advocate of the internet currency, is looking to sell his Miami mansion at 7350 Southwest 47th Court. It hit the market on Wednesday for just under $6.5 million with listing agent Stephan Burke of Brown Harris Stevens, Komaransky said.

Property records show he paid $4.6 million for the seven-bedroom, 9,452-square-foot house in 2014, and now wants to sell it for about 40 percent more. The home sits on an acre of land near Coral Gables and features covered terraces, a chef’s kitchen, a summer kitchen, pool, basketball court and playground.

Komaransky, who recently left his position as the head of trading at Cumberland Mining and Materials and partner at Chicago-based DRW Trading, said he offered to buy the home with Bitcoin in 2014, but the seller wasn’t interested.

He’s not the first to accept the new form of currency as payment for real estate. Las Vegas developer Jack Sommer was open to accepting Bitcoin for this $7.85 million home in 2014, and a buyer in California made a $1 million profit on a home purchase thanks to an overnight spike in its value, according to the Miami New Times.

“From an investor’s perspective, it’s very interesting as a use of protection against inflation,” Komaransky said, adding that he predicts it will become popular in Latin America where currencies fluctuate more so than in the United States. “You don’t have to worry about money losing its purchasing power. … More South Americans need protection against inflation.”

Komaransky is “semi-retired” in France with his family, and plans to eventually return to Miami, where he used his property as a vacation home.


Source: The Real Deal