Propy Sells First U.S. Home Using Blockchain Technology In Gulfport Condo Sale
6315 11th Avenue South, Gulfport, Florida 33707, United States
$653,163
$301/SF
Building Size
2,164 SF
Asset Type
—
Closing
Feb 7, 2022
About this deal
AI
The property involved in this transaction is a condo located at 6315 11th Ave. S in Gulfport. The condo was sold by Propy, a real estate blockchain company, represented by Natalia Karayaneva. The sale price for the condo was $653,163, which was equivalent to 210 ETH. As part of the deal, the owner received a non-fungible token as digital proof-of-ownership.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $653,163 (210 ETH)
- Seller: Propy - Natalia Karayaneva
- Address: 6315 11th Ave. S
- Market: Gulfport
This transaction is notable as it marks the first home sold in the U.S. by Propy, a real estate blockchain company. The sale of the condo demonstrates the increasing adoption of blockchain technology in the real estate industry. The owner of the condo not only received monetary payment but also a non-fungible token, providing them with digital proof-of-ownership.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
24.29%
Cash-on-Cash
-6.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93