Headlines

New York City Parking Spots For $1 Million

There are so many unique things that New York City has to offer that you can't find anywhere else, including parking spaces worth more than an apartment.

Below a SoHo apartment building lays 10 parking spaces being sold on a first-come, first-served basis to those who can afford to pay an additional $1 million.

There are only nine apartments in the building, according to New York Times.

The parking spaces cost more per square foot than the apartments upstairs.

For the 150-square-foot parking space costs residents about $5,000 to $6,666 per square foot. The apartments, on the other hand, are running for a little over $3,000 per square foot, as NYT reports.

New York City was ranked as the number one most expensive places to live in America by The Council for Community and Economic Research.

"When you associate parking with a multi-million dollar purchase, it gets lost in the shuffle. It's not as big of a number when you're buying a 20, 30, 40 million dollar apartment," Jonathan Miller, a real estate appraiser, tells FOX. He also adds that since parking is scarce in the city it adds value to the secured spot.

Tags
New York City, Parking, Real estate
Real Time Analytics