May 23rd, 2012
by Michael Haltman, The Political Commentator
Econintersect: 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.
Click on picture for large view of Maserati Birdcage concept car.
Follow up: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.
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!
- The $1 million parking space (Annie Karni, New York Post, 20 May 2012)