Tuesday, May 22, 2012

Buying a parking spot in NYC? That'll be $1 million please!

What will $1 million buy in New York City? How about a 12' wide, 23' deep and 15' high parking spot!

Is this merely supply and demand or a case of decadence, thy name is NYC!

This concrete slab is located at 66 East 11th Street in a building where the penthouse apartment will have an asking price of $38.8 million.

The garage will be offered at a price of $1 million and probably sell for well above in a bidding war likely to develop between two hedge fund manager-types who will want to layer their Maserati and Bentley one on top of the other.

"The parking space isn’t the only amenity: the shower water will be pumped full of vitamin C and aloe, and the apartments will have heat reflexology flooring.
The lighting patterns and air quality in the building are designed to provide its residents with a better night’s rest." (Source)
Recession? What recession? 

It wasn't that long ago that you could buy a NYC taxi medallion for $1 million, and now you would have to pay the same for a place to park it!

Picture Source

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