In a market defined by tradition yet increasingly shaped by innovation, David Chkheidze, Founder & CEO of Yangzi Realty, is making a bold statement: the future of real estate transactions may very well be digital. #Powerjournalist Markos Papadatos has the scoop.
Chkheidze has just secured the exclusive listing for 965 Lexington Avenue, a five-story mixed-use building located in the prestigious Gold Coast of Manhattan’s Upper East Side. What sets this offering apart isn’t just its prime location or development upside—it’s the pricing structure. The property is being offered at 83 Bitcoin (approximately $6.3 million USD), positioning it among the very first Manhattan real estate assets openly embracing cryptocurrency as a form of payment at closing.
A Strategic Asset in a Prime Location
Located in the heart of Lenox Hill, the property spans approximately 5,587 square feet and features a compelling configuration:
• Two commercial units
• Three full-floor free-market residential apartments
Additionally, the building offers 8,003 square feet of unused air rights, presenting a significant value-add opportunity for developers and investors alike. Zoned R9X, C1-5, the property allows for a wide range of uses including residential, retail, restaurant, office, and community facilities—an increasingly rare level of flexibility in this coveted neighborhood.
“Upper East Side, especially Lenox Hill’s Gold Coast, continues to be one of the most sought-after areas for investment sales,” said Chkheidze. “The long-term appreciation here has been exceptional, and even amid market uncertainty, assets like this continue to demonstrate resilience and growth potential.”
Pioneering Crypto in Closings
By introducing Bitcoin as an accepted form of payment, Chkheidze is not simply marketing a property—he’s testing the boundaries of how high-value real estate transactions can evolve.
While cryptocurrency has gained traction globally, its application in New York real estate—particularly at this level—remains rare. Chkheidze’s approach reflects a growing intersection between institutional real estate and digital assets, appealing to a new class of global investors who seek both diversification and efficiency in transactions.
This move also signals confidence in the legitimacy and staying power of cryptocurrency within regulated, high-value markets.
A Career Built on Scale and Precision
Chkheidze brings over 26 years of experience to this milestone listing.
Over the course of his career, he has:
• Leased more than 1 million square feet of retail space in Manhattan
• Completed deals involving over 120 restaurant operators
• Evaluated more than 3,000 properties with a combined value exceeding $7.9 billion
Before founding Yangzi Realty, he held senior roles at firms including Cushman & Wakefield and Massey Knakal Realty Services, where he specialized in investment sales and retail leasing.
Beyond real estate, Chkheidze is also an entrepreneur in hospitality, having founded Old Tbilisi Garden, and is an active importer of Georgian wines into the United States—further reflecting his global outlook and diversified business acumen.
Redefining the Transaction Landscape
With the listing of 965 Lexington Avenue, Yangzi Realty is not just offering a property—it’s presenting a concept. A concept where Manhattan real estate, long considered one of the most traditional asset classes, intersects with one of the most disruptive financial technologies of our time.
Whether this transaction ultimately closes in Bitcoin or USD, one thing is clear:
David Chkheidze is positioning himself—and his firm—at the forefront of a rapidly evolving marketplace.
