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
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I heard that story, too!
Submitted on July 14th, 2007 by Anonymous (not verified)That is a ridiculous amount of money for a parking space, but I bet no one double-parks in those lots.