A 17th Century Italian Mansion Will Be Auctioned Via Blockchain

bitcoin blockchain

A historic 17th century mansion in Rome, Italy will be auctioned off through the facilitation of blockchain startup, Propy. The sale of the 17,000 square foot “Palazzetto” will be the first real estate transaction using blockchain in the EU.

The startup has facilitated several “firsts,” including the first ever blockchain real estate transaction for an apartment in Ukraine last year, and the first American blockchain property transfer for a condominium in Vermont earlier this year.

Blockchain is defined by Google as “a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.” The point of these transactions is to increase efficiency with nearly instant transactions and the cutting out of middlemen.

The owner of Palazzetto, Filippo Cingolani, had approached the startup Propy about facilitating the auction of his property due to his following of and interest in the development of blockchain technology for the past few years.

Cingolani said he “liked the idea of matching a piece of architectural history with the most modern currency ever.” The 16th century mansion, built by Giacomo della Porta, known for his work on the St. Peter’s Basilica, has been divided into three luxury apartments for the auction after centuries in the Cingolani family.

Cingolani is working with the brokerage Hilton and Hyland. Bidders have to register for the auction in advance, and it will run until June 28th. The starting bid will be 35,000 euro.

Villa Sul Lago di Lugano | $8,130,990

Via Guglielmo Marconi 12
Campione D’Italia, Italy

Bedrooms: 7
Bathrooms: 9
Living Area: 8826 square feet
Lot Size: 15,898 square feet
Price: $8,130,990

About

This villa is situated on the eastern shore of Lake Lugano. It is one of the most exquisite residences in the area, designed to capitalize on the sweeping views of the lake. It is located in a residential area of Campione d’Italia and completely surrounded by Swiss territory. Through numerous agreements with the Swiss government, both on tax and welfare, living in Campione d’Italia is to live in Switzerland with Italian residency.

Lugano, with its restaurants, shops and casino, is only 20 minutes away by car. The home is also near Como, and Milan.

The residence itself is built on 3 floors. The main entrance opens onto the ground floor, a huge studio and large living room with a glass partition splitting the two areas. The two spaces are separated by a hanging garden, which leads to the terrace that spans the length of the house.

The sleeping areas are on the first floor. The master bedroom offers stunning, south-facing views of the lake and an enormous bathtub as well as closet.

The first floor is a partial mezzanine and benefits from the light from the ground floor. The guest bedrooms are on the basement floor and open onto the lake. They consist of three double bedrooms. There is also a spa area, a concierge’s apartment with separate kitchen and entrance, a swimming pool

All the finishes are of the highest quality including hardwood floors, marble/stone/ceramic bathroom fittings, a natural stone and ceramic paving on the balconies, terraces, and footpaths. Additionally, the use of wood and steel combined with innovative roof and insolation technology provide an ever-comfortable atmosphere.

The property is certainly one of the most prestigious residences on this side of the lake and would be perfect both as an impressive property and as a family home, with the opportunity to host friends and relatives.
The current state of the property provides the potential buyer with the opportunity to make changes to the internal layout, adapting it to their own tastes and requirements.

Photos

 

Listing courtesy of Casaitalia International