Miami-based developers Rilea Group and Cipres have announced the completion of the first direct wallet-to-wallet cryptocurrency residential sale at The Rider Residences, a 12-story, 146-unit residential building under construction at 94 NE 29th Street, situated between Midtown Miami and Wynwood.
The transaction involved the sale of an east-facing studio spanning 391 square feet of interior space with a 133-square-foot private terrace. The residence sold for $528,900, reflecting approximately $1,353 per square foot, through a direct Bitcoin transaction conducted via Kraken, a regulated cryptocurrency exchange.
Credit: The Rider Residences.
Unlike previous crypto real estate transactions that typically involved conversions to U.S. dollars or the use of third-party platforms, this transaction was conducted directly between digital wallets, eliminating intermediary steps. The transaction was facilitated in-house by Jake Lecce, Uri Redler, and Yessika Arevalo of Cervera Real Estate.
The Rider Residences is expected to be delivered in late 2026. The development will feature fully furnished units with no rental restrictions, designed with a 1970s-inspired aesthetic featuring bold colors, textured fabrics, and glass balcony designs intended to align with the building’s retro-modern identity. Residences will offer open layouts, gourmet kitchens equipped with Bertazzoni appliances and Italkraft cabinetry, spa-style primary bathrooms, smart home systems, and floor-to-ceiling windows.
Deforma Studio is serving as the architect, with interiors by RADYCA. The project will offer a range of floor plans including studios, one-, two-, and three-bedroom units, priced from the $400,000s to approximately $1.8 million.
Amenities at The Rider Residences are planned across multiple floors and will include a lobby café, a rooftop resort-style pool deck with a restaurant and speakeasy, a hi-fi listening lounge, a pet spa, a fitness center with Peloton and Technogym equipment, and a wellness spa featuring cold plunge pools, IV therapy services, and a Turkish Hammam. Additional services include 24-hour valet parking, EV charging stations, private garage access, and a “Toybox” amenity featuring in-house Harley Davidsons, Vespas, and electric bikes available for resident use.
The development will also benefit from proximity to a new high-speed rail station planned for Wynwood, located one block away on NE 27th Street. The station is part of the region’s expanding car-free transit network, connecting Miami to Aventura, Fort Lauderdale, Boca Raton, West Palm Beach, and Orlando.
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