Next time you find yourself complaining about having to put a quarter in the meter just to park on one of our local streets, think about this.
Someone in New York City is going to pay one million dollars to buy a single parking spot. It’s true. The parking spot is located in a 66th Street garage and comes with its own deed.
It’s 10 feet wide and 23 feet long, so there is the option for the owner to lease part of it to another motorist, you know, to earn some extra income.
Parking spots go for ridiculous sums of money in Manhattan because there is virtually no such thing as parking your car on the street and just leaving it there for days. Most streets are cleaned at least twice a week, which means moving your car. And much of the prime, on-street parking is metered, with black out times when you have to move your car. Parking garages can cost upwards of $50 a day.
Oh, and if I didn’t mention it, the parking space also comes with a monthly maintenance fee, just like a condo. How’s that for a bargain?