Markets In Everything: NYC Parking Spots

My initial reaction to this story is that if you can afford $1mm for a parking spot, you can probably afford to just have a driver take you wherever you’d like.

NYC’s First Million Dollar Parking Spot to Hit Market – NBC New York: The city’s first $1 million parking space is soon expected to hit the market. The private parking spot is located inside an eight-story luxury condominium building at 66 E. 11th St., and will come with its own deed and sales contract, the New York Post reports. Like a condo, it will be charged maintenance fees. The space will go to the 8,000 square-feet town house or to the penthouse in the building, according to the developer Morad Fareed. The space measures about 12 feet wide, 23 feet long and more than 15 feet high. It could be “duplexed” to accommodate another car at the same time.