There you are, sitting in the midst of all those piles of cash, having bought all the things you’ve ever dreamed of buying (an end to student loan debt, a cheese cave for every home and a yacht named The Aaron Rodgers) and the garbage bin is entirely full. But how will you throw your money away now? Perhaps you’d be interested in owning one of 10 million-dollar parking spots in New York City.
Yes, in The City That Never Sleeps Because It’s Too Busy Spending Money On More Stuff, there are 10 underground bits of real estate in SoHo that cost more per square foot than the apartments upstairs, reports the New York Times.
The new development is offering the spots on a first-come, first-served basis to anyone who buys one of the units in the luxury apartment building.
As the NYT puts it — “instead of a 5,000-square-foot house with a wine cellar in Dallas or a 3,500-square-foot abode with a sauna in Seattle, you could choose 150 square feet in the basement” of the new condo.
The spots go for $5,000 and $6,000 each, as some will be about 150 square feet and others up to 200 square feet. That’s compared to the approximately $3,170 per square foot price of the three-bedroom units in the building.
And after all that, shelling out a cool million for a parking spot doesn’t mean the buyer actually owns it — it’s just a 99-year-long parking space license that allows whoever holds the spot to use it as long as they live there.
This isn’t the first time we’ve since exorbitant amounts of cash flashed at a parking spot — last year in Boston a woman paid $560,000 for two private spots. Those were outside, however. So.
Million Dollar Parking Spot [New York Times]
by Mary Beth Quirk via Consumerist
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