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A Hedge Fund Manager Will Accept Bitcoin for His $16 Million Mansion

Cash works, too.

relates to A Hedge Fund Manager Will Accept Bitcoin for His $16 Million Mansion
Photographer: Alex Lucaci

In 2013, Roy Niederhoffer, the president of New York-based R.G. Niederhoffer Capital Management, Inc., was in need of a place to live. He’d begun a long-term construction project to renovate a house in Manhattan, but in the meantime, he and his young family were living in a rental nearby, a situation he says was short-term at best.

“I was like, I need a place to live now,” he says. And so when he saw that all three units of a mansion on Riverside Drive were up for sale simultaneously, he jumped. “It’s a house that I’d admired for decades as one of the greatest houses in New York. To see that it was up for sale was very exciting, and it had come down tremendously in price.” Together, the three units at 40 Riverside Drive cost Niederhoffer about $12.9 million, according to StreetEasy.