Parking: $3,623.19 a Square Foot

May 23rd, 2012
in econ_news

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.

"The parking space isn’t the only amenity: the shower water will be pumped full of vitamin C and aloe, and the apartments will have heat reflexology flooring.
The lighting patterns and air quality in the building are designed to provide its residents with a better night’s rest."

Recession? What recession?

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!


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