Sam Logan, a 30-year-old reality TV star on Siesta Key, started off the new year on some positive notes. On Dec. 30, 2021, he sold his mansion—appropriately located on Siesta Key—for $6,847,000, above his $6.8 million asking price, freeing him to move to Miami. (Don’t worry, Siesta Key fans. He’s not leaving the show.)
But more interestingly, the transaction included six NFTs, a special gift from Living Vogue, the real estate brokerage which represented him in the sale.
So what’s an NFT? We’re not sure we understand it (or if anyone else does, either), but the acronym stands for “non-fungible token.” NFTs transform digital works of art into one-of-a-kind, verifiable assets and act like a one-of-a-kind trading card. They allow you to buy, trade and sell ownership of unique digital items and keep track of who owns them. They feel gimmicky but are tough to dismiss since they’re fetching millions. In March 2021, one sold for $69 million at an auction, millions more than some original works, like Monet’s painting Nymphéas that sold for $15 million less. If that still makes no sense, click here to learn more.
Founder of Living Vogue, Mark Coppens says, “They’re the next frontier of art and collectibles, and we’re embracing it in an effort to stay pace with our client base.”
Each Living Vogue NFT commemorates the sale of a luxury property, called “Cribs.” The real estate company will also produce NFTs that celebrate iconic buildings, called “Landmarks,” that aren’t related to sales. The artist who produced them wishes to remain anonymous.
Another digital-minded first for the transaction was the use of Bitcoin. It’s how Logan paid the home sale commission to Living Vogue’s Lexie Salameh, the realtor who represented him in the sale, who is also a good friend and Siesta Key co-star. Although the buyer used traditional means, the home was also listed for 112 Bitcoin. Coppens says Living Vogue is the first real estate company in the U.S. to accept a commission in Bitcoin.
Logan isn’t a huge cryptocurrency guy, but he did well when a friend encouraged him to put money into dogecoin (another cryptocurrency, similar to Bitcoin). “I think decentralized currency is going to be bigger than government-printed money,” he says. “There’s no tangible asset and it’s peculiar to think about. You can’t go to a bank and ask for 10 Bitcoin. Miami bars accept it now. You can get it on a card or store them on your phone.”
For Logan and Salameh, Bitcoin was a fit. But it was the tangibles that perhaps sweetened the deal. “I bought her a bike to thank her for her amazing work. My mom made some homemade granola and had me bag some for her too,” he says. Check out pictures of the home here. The price included the furniture, decor and bragging rights. It was often a backdrop to the show, and Logan used to open its doors at 8 a.m. for the staff. “They practically lived there,” he says.
Will the burgeoning Sarasota real estate market see a new influx of digital deals?
If you talk to Living Vogue’s Coppens, the answer is yes. “The current luxury boom in Sarasota is being led by sophisticated, oftentimes younger, clientele with diverse investment portfolios from all over the U.S., not just the traditional feeder markets of the Northeast and Midwest,” he says.
Logan, meanwhile, is moving to Miami, where his younger brother lives. “My friends have planes, so I’ll be back and forth all the time,” he says. “I’m single and young, and I can’t just go to Brewster’s (a bar in downtown Sarasota), for the rest of my life. I’ve been here my whole life and I’ve outgrown it.” His parents still have a home up the street from his recently sold waterfront home, and he loves the area, but “it’ll be a breath of fresh air to move to Miami,” he says.
And while Miami might be more action-packed than Sarasota, it might come with a little less drama for Logan.
“If we were all sitting around and talking about how great each other was while sipping champagne it wouldn’t be hard,” Logan says. “I don’t like confrontation and you have to defend yourself sometimes. If someone says something negative about you on national TV you have to get into that banter and I’m not into drama–it can get overwhelming,” he says.
Some of what he describes is on display on his Instagram account, where some followers questioned him posing with women in the wake of his breakup with the show’s main character, Juliette Porter, who he dated for roughly two years. They broke up in August.
One follower accused him of flaunting other women and trying to make Porter jealous. In a reply, he highlights that he’s single. “There’s a lot of negativity on social media and being judged by people who don’t even know you,” he says.
Logan, who admits he’s never seen an episode and used to be petrified of being filmed, says, “I’m just a human who just gets followed around by cameras.”