Thirteen East + West is a luxury condominium development located on 436 & 442 E 13th St in the East Village, Manhattan, New York City. Thirteen East + West is the first real estate asset in Manhattan to be financed through tokenization.  
The Thirteen East + West development built by The Amirian Group is made up of two buildings—located at 436 and 442 East 13th Street with 12 units between them. They range in price from $2.35 million to $3.6 million. The total projected sellout for Thirteen East + West is $36 million. 
Thirteen East + West amenities include a children's playroom and private outdoor space in most of the units; the units average around 1,700 square feet. They're being brought to market by Million Dollar Listing New York star Ryan Serhant's Serhant Team with Nest Seekers International. 
According to The Real Deal, those involved in the deal say this is the first time investors have been able to use cryptocurrency and blockchain technology to invest in Manhattan real estate, and that it portends a more democratic and decentralized world in which accredited small investors will be able to take advantage of real estate’s profit potential, generally only available to the rich and connected. 
In this case, investors would buy membership interests in a limited liability company that will hold the project’s debt, with the LLC slated to buy out Amirian’s existing construction loan and preferred equity at Thirteen East + West, a 12-unit luxury condo spanning two buildings at 436 and 442 East 13th Street. New York City Department of Finance records show the developers received a total of $16.95 million in construction financing. 
Michael Oved, Fluidity’s co-founder, said that investors in the LLC investors will be entitled to a preferred return and a profit participation. Fluidity is working with Propellr Securities LLC, a New York-based company that will act as the broker-dealer of the LLC.
Investors will be able to buy into the asset the traditional way, using US dollars. But were they to go the crypto route, the transaction would be recorded on a blockchain, which is an online ledger for keeping track of who owns what. 
“Propellr’s job is to find the buyers of the security through their tech platform,’’ said Oved. “Our job is to take those interests and turn them into tokens.’’ 
The group putting together this structure — Fluidity, AirSwap, Propellr, Amirian, — is taking pains to make sure the investment complies with U.S. Securities and Exchange Commission regulations, which for the most part treat cryptocurrencies as a security – an investment vehicle — rather than a currency. Propellr will offer and sell traditional and tokenized securities under what is known as Reg D rule 506 (c). 
Fluidity’s co-founder Sam Tabar said the minimum investment is $25,000 but declined to provide specifics on how much an investor could buy or the pricing of the shares, citing requirements by the SEC.