A cryptocurrency firm seems to be behind the Upper West Side’s most expensive townhouse sale.
An entity tied to Brendan Blumer, CEO of the crypto firm Block.one, which was behind a controversial $4 billion token issuance in 2017, paid $45 million for the Higher West Aspect megamansion at 48-50 West 69th Road, The Actual Deal has realized.
The LLC, MI 8787, was additionally behind a 2024 buy of a $40 million waterfront spec mansion at 40 Palm Avenue in Miami Seashore, which set a document for Palm Island. Property information present {that a} 2025 tax refund following a $45 million sale that yr was issued to an handle within the Cayman Islands tied to Block.one, Blumer’s firm.
In New York Metropolis, the identical LLC was the customer of a 4,500-square-foot penthouse at 505 West nineteenth Road for $21 million in January, property information present. The three-bedroom, three-bathroom rental has a 3,400-square-foot rooftop and a deeded parking house.
Compass’ Maggie Wu, who labored on the buy-side of the deal, denied that Blumer was the customer, and mentioned as an alternative the property was bought by an “investor” who plans to flippantly renovate and re-list the property later this fall.
In March 2025, an Italian newspaper reported Blumer was behind the most costly residence sale within the nation’s historical past after he paid $172 million for a 28-room Sardinian villa.
The property spans 5.7 acres and has over 1,000 toes of water frontage on the Romazzino Bay and entry to 2 non-public seashores. Beforehand owned by Henry Ford II, the grandson of Henry Ford, and Sheikh Ahmed Zaki Yamani, a Saudi oil minister who performed a big position in creating OPEC.
The townhouse buy set a neighborhood document, even at an almost 50 % value minimize from its original $85 million asking price. The large residence initially hit the market in March 2024 and made waves with its astronomical asking value for the neighborhood, earlier than being taken off the general public market a couple of months later.
The earlier record-holder for a townhouse sale on the Higher West Aspect was at 248 Central Park West, which bought for $22 million in 2022.
French businessman Pierre Bastid and his spouse, jazz singer Malou Beauvoir, purchased the adjoining properties for a mixed $24.5 million in two separate offers that closed in 2011 and 2012. The couple tore down the earlier constructions and undertook an expansive development venture that was so bothersome to the neighbors that it elicited greater than 2,000 phrases in a 2019 article within the New York Instances concerning the noise and particles.
The Instances estimated that development prices might run as excessive as $100 million on the property.
The 19,600-square-foot residence has 5 bedrooms and 11 loos throughout eight tales which are related by a limestone floating staircase, together with a commercial-grade elevator.
The 38-foot-wide parlor flooring has 24-foot ceilings and opposing wood-burning fireplaces. The backyard stage has an indoor-outdoor wellness house, together with a 55-foot indoor lap pool. The complete-floor main suite spans over 2,000 sq. toes with a wood-burning fire and a south-facing terrace. The house additionally has a penthouse lounge with a wraparound terrace, moist bar and skylight.
Regardless of the in depth renovations, the house’s asking value had all the time gave the impression to be a stretch for the neighborhood and the property, which nonetheless lacked distinctive options of comparable properties on the Higher East Aspect, like a grand limestone or Georgian facade.
Compass’ Jim St. Andre, Trevor Stephens and Michael Maniawski had the itemizing. St. Andre didn’t reply to a request for remark.
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UWS double-wide sells for $45M, sets neighborhood townhouse record
UWS megamansion snags deal after asking $85M
Chilean casino mogul sells waterfront Palm Island spec mansion for record $40M
