A residential developer is selling a large site in North Park and is accepting digital currency, including Bitcoin, as payment.
Cushman & Wakefield, the real estate firm handling the listing, said it was the first time they knew of where a seller was accepting cryptocurrency, typically considered a more volatile form of payment.
The property sale is likely to be in the millions of U.S. dollars, but sellers Sequoian Investments have not listed a price yet, instead entertaining the highest offers with a preference for those that include cryptocurrency in the bid.
The 2.32-acre site at the end of Boundary Street is zoned for up to 100 apartments or condos. Purchased by San Diego-based Sequoian 2 ½ years ago, the property is adjacent to Interstate 15 across from City Heights.
Sequoian will accept Bitcoin, the world’s most popular cryptocurrency, and Ethereum, the second-most popular. Bitcoin was valued around $6,581.87 Tuesday afternoon, and…