The $1 million Parking Space

[Hum]

The most expensive parking space in New York City history is now for sale.

The $1 million price tag for the 23-foot-by-12-foot slab of space on East 11th Street has already provoked a wave of reactions from experts. Depending on your location, and perhaps the size of your wallet, the cost of the space is:

A) A sign that the convalescing real-estate market has returned to full health.

B) An ostentatious and tone-deaf display of excess.

C) A desperate indication of how parking-poor Manhattan has become.

To a prospective buyer, the cost of the space might be tempered by a need for privacy. "You can drive in and not be seen again," Prudential Douglas Elliman vice chairman Dolly Lenz tells the New York Post. "It's for the type of person who finds that attractive."

The spot is currently set for single-car usage, but the next owner, Lenz says, could opt to add an elevator to double capacity. The space will not be offered to just anybody. A developer in charge of renovating the eight-story loft is converting it into six luxury condominiums.

Although the parking spot comes with a separate deed and sales contract, the buyer must reside in the building.

The $1 million asking price for the spot is more than six times the national average of the price for a single-family home. A driver could pay New York's $115 ticket for illegal parking every day for 23 years ? and still pay less than the buyer of the million-dollar spot.

source

[still1]

average monthly parking in NY city is ~$500. :no:

I am glad i don't live in big cities. average parking where i live is about $100 in downtown and about $50 in residential area.

btw, with that money I could park for 833 years

[Hum]

^ With $1 million, you could buy a new car frequently, for life. :laugh:

[shakey]

^ With $1 million, you could buy a new car frequently, for life. :laugh:

Or hire people to do your errands :p

[vincent]

Indication of how poor parking in Manhattan has been, not become..

[Arachno 1D]

Just buy a new car every time you get a ticket

[zeta_immersion]

Or hire people to do your errands :p

like a stripper ... i love women

[Hum]

^ You'll get over it.

[-Alex-]

D) A way to save paying $1m in tax

[Growled Member]

It will be a cold day in hell before I pay that much for a parking place

[Original Poster]

hire a driver .... then tell him to bugger off till you need him

[TEX4S]

If it comes with any added security (like that space over the others near it) and the owner has some sort of exotic supercar - then maybe it might have some kind of appeal.

IMO it seems like that $1000 iphone App that did nothing but show that you're a moron for spending $1000 pm a tiny little pic.

Here's a thought: Buy a decent parking space and pay someone $40,000/yr to do nothing but clean & protect the car when its there & make sure nobody else parks there when you're not.

You can write off the $40K/yr & use the savings to have a quasi-supermodel pose on your car whenever you come out of your $20,000,000 condo -

Now who would want that stupid plain $1 million parking space ?