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Have Money to Burn? Pay $225,000 for a Parking Spot

Living in Manhattan for many years, the high prices there never surprised me. So when I was watching Nightline last night and heard that people in NYC were paying $225,000 for a parking spot, I wasn't really surprised. A little frustrated that you could buy a four bedroom house in many parts of the country for the same price, but not surprised. ABC.com reports ".... in space-starved Manhattan, a parking space is considered prime real estate. There's actually a waiting list for the $225,000 spot." Peoplewho don't even own cars are buying parking spaces as investments to flip.

 

So exactly what do you get for your $225,000? A 18 feet by 9 feet parking spot. I know, you feel like you just hit Lotto for all you are getting.

You can read details of the story on ABC.com.

Alexis
Featured Blogger
InventorSpot.com

Comments
Jul 14, 2007
by Anonymous (not verified)

I heard that story, too!

That is a ridiculous amount of money for a parking space, but I bet no one double-parks in those lots.