A New York bar proprietor desires to promote his two Hell’s Kitchen institutions — for Bitcoin.
Patrick Hughes owns two bars — Hellcat Annie’s and Scruffy Duffy’s — that sit subsequent to one another on tenth Avenue close to forty fifth Road. He not too long ago put these watering holes up on the market for 25 Bitcoins or 800 Ethereum tokens, which interprets to about $875,000, the New York Submit reported.
“I’m hoping to catch one in every of these crypto dudes who all the time wished to personal a bar,” stated Hughes, who has put a for-sale signal out entrance to get consideration from passers-by.
Hughes’ household has been within the Manhattan bar enterprise since 1970, however the pandemic cemented his want to promote. Covid-19 lockdowns have compelled many bars and eating places within the metropolis to shutter their doorways as they confronted a mess of challenges, together with the suspension of indoor service and a ever-changing spate of rules for outside eating.
If Hughes finds a purchaser, this can be the primary cryptocurrency-only gross sales transaction for a bar. But it surely has been utilized by the true property business earlier than.
Ben Shaoul of Magnum Actual Property Group bought an Higher East Aspect retail rental for $15.3 million in Bitcoin in 2019. [NYP] — Akiko Matsuda