Topic: [ 2018- 01-23 ] This Newark home can be yours ... for 174 bitcoin (Read 74 times)

https://www.delawareonline.com/story/news/local/2018/01/24/newark-delaware-realtor-accepts-bitcoin/1058002001/

Suzanne Herel, Special to the News Journal Published 10:00 p.m. ET Jan. 23, 2018 | Updated 10:37 a.m. ET Jan. 24, 2018

This Newark home, located near White Clay Creek State Park, is the first in the state to accept bitcoin as payment. Daniel Sato/The News Journal/WOCHIT

Virtually no luxury nor high-end finish went overlooked in the construction of 93 Wedgewood Road, a sprawling estate built five years ago on 4.2 acres near White Clay Creek State Park in Newark.

Designed by Hillcrest and built by Dewson Construction, the home was a dream for the couple who conceived it, but they now find themselves moving out of the area.

“The finishes are incredibly superb. It’s rare that you see such high-end detail,” said Michael A. Kelczewski, an agent with Brandywine Fine Properties Sotheby’s International Realty, who has listed the home at $1.75 million.

Befitting the property’s modern vibe, Kelczewski is employing a novel feature in its marketing: You can buy it using bitcoin, the nouveau cryptocurrency that enables peer-to-peer transactions without an intermediary.

A single bitcoin's value has ranged from $19,500 to $9,700. At this week’s value, 93 Wedgewood Road would cost about 174 units of the digital asset.

The lure of bitcoin is that it's an international currency and requires no middleman to facilitate a sale.

The gambit may be a long shot, but it also just might nudge an international buyer into the game, Kelczewski said, noting the challenge of finding luxury bidders in and around the Small Wonder that is Delaware.

“It’s not easy to purchases houses internationally,” he said. “This is increasing its marketability.”

Should a bitcoin buyer materialize, Kelczewski is prepared with an attorney who would be able to handle the transaction, which in essence would translate to an all-cash deal.

The first single-family home in the United States reportedly bought with bitcoin was a custom luxury estate in Austin, Texas, which changed hands in September for an undisclosed sum. Previously, a Lake Tahoe, California, community reportedly transacted a $1.6 million land deal in bitcoin.

Regardless of tender, the purchase is striking.

The 8,375-square foot home’s cathedral ceilings and abundant windows invite sunlight to bathe the open floor plan and hardwood floors. There’s a library with built-in shelves, home theater, game room, wet bar, gym and wine cellar. Eco-friendly materials were incorporated wherever possible.

The kitchen is fitted with commercial grade appliances, a center-island sink, and granite countertops.

A wide, wrapping staircase wends to the master suite, featuring an expansive marble bathroom and dual walk-in closets.

And that’s just indoors.

Outside there’s a custom-shaped pool and hot tub, outdoor kitchen with fire pit, a carriage/guest house, and garage that fits five cars.uzanne Herel is a freelance journalist.

93 Wedgewood Road, Newark
ASKING PRICE: $1.75 million

SIZE: 8,375 square feet

LOT: 4.2 acres

ROOMS: Three bedrooms, five bathrooms, two half-baths

GARAGE: Fits five vehicles

BUILT: 2013

NOTEWORTHY: Bitcoin accepted

CONTACT: Michael A. Kelczewski, [email protected], (302) 654-6500

Suzanne Herel is a freelance journalist.