The building on the prestigious street in Zurich was tokenized and sold using the blockchain for $ 134 million. The new owner of the building is the Swiss real estate investment firm BrickMark.
Located in a high-demand retail district the building at Banhofstrasse 52 is home to private office space and a Swatch retail outlet.
BrickMark crypto tokens represent “shares” of ownership in the building. The tokens are currently available to accredited institutional investment professionals who want to cut themselves in on earning some of the building’s rental income and benefit from any rise in the property’s value.
Tokens were sold to private investors who wanted to receive part of the profit for the rental of the building, as well as profit from the growth in the value of real estate.The previous owner of the building, RFR Holding, has reserved the part of the property. The company will receive 20% of BrickMark’s total supply of tokens and will profit from the rental of premises.