Welcome To The Okada NFT Page
Okada & Company is a commercial real estate company constantly seeking to use innovation in its real estate leasing, sales, and investment practices. Here you can find everything Okada is doing in the world of Non Fungible Tokens.
Letter To Security & Exchange Commission On NFT Treatment
Okada Lists The First Commercial Property As An NFT
The Property
Okada is selling 109-111 West 24th Street, New York, NY (the “Property”) a 46,299 SF office & retail building in the NoMad / Flatiron section of Chelsea, NYC. The property itself is a 7-Story elevator building steps away from the world famous Madison Square Park, The Highline, and the Flatiron District.
All inspections, tours, & inquiries concerning the property are handled by Peter Carillo of HKS Real Estate Advisors ( the “Property Team”). Contact information shall be listed below.
All NFT Sales processes inclusions & inquiries shall be handled by Christopher Okada of Okada & Company ( the “NFT Team”). Contact information shall be listed below.
Click Here for all the pertaining property level information:
How It Works:
The NFT
The NFT listed in on OpenSea gives the Purchaser exclusive rights to acquire the building all its uses rights & related deed covenants. Due to the nature of real estate sales, the sale of the NFT does not warrant the completion of the real estate transaction, or reflect the transfer of the deed or title. The traditional real estate process must still be complete.
There is one (1) token for this transaction. All sales are final. This NFT shall me minted on the Ethereum Blockchain.
Quality Assurance & Fraud Protection:
In order to assure a quality transaction & to prevent fraud pre & post transaction, Purchaser is highly advised to coordinate with both Property & NFT Teams PRIOR to completion of the NFT Purchase. Multiple levels of verification of wallet should be conducted PRIOR to the completion of the NFT Purchase.
Purchaser shall be required to fill out a time stamped buyer & wallet registration forms. Only wallets stamped prior to the completion of the sale shall be considered. Wallet address pre & post transaction must match.
Post NFT Purchase
After the NFT Purchase, Purchaser must coordinate with us to complete the fee simple transaction and deed & title transfer of the Property. The traditional process shall follow according to the Conditions of The Sale listed below.
Conditions of The Sale
The property is to be sold on an “as-is / where-is” basis
Upon the completion of the NFT Purchase, Purchaser must supply us with their purchasing entity documents within fourteen (14) days from the NFT Purchase Date.
Purchaser or their Authorized Signatory will be required to sign original deed & title forms (This can be done in-person or via FedEx)
The Property shall not be exclusively sold on OpenSea & will also be marketed to traditional / FIAT Purchasers
Purchasers shall be subject to KYC (Know Your Customer) protocols.
Contact Info:
The NFT Team:
Christopher N. Okada
Okada & Company
cno@Okadaco.com
The Property Team:
Peter Carillo
HKS
PCarillo@hks.com