For a traffic-packed city like Manhattan where you are better off taking the subway or even just walking to your destination if possible instead of using your car, there seems to be a high demand for parking places.
In fact, so high is the demand, that the city’s first million dollar parking space is a reality in Greenwich Village, a residential neighborhood on the west side of Lower Manhattan in New York City. According to the New York Post, that is six times more than the national-average price of a single-family home!
The 12-feet wide, 23-feet long and 15-feet (4.6m) high private parking garage is located inside an eight-story luxury condominium building at 66 E. 11th St.
Dolly Lenz, vice-chairman at New York real estate firm Prudential Douglas Elliman, which will sell the parking garage, told ABC News that the garage can actually be modified to fit two cars on ramps.
“This is actually undervalued,” Lenz told the news station. “Normally, when you buy a garage, you are literally buying between two lines in a designated spot.”
Lenz says that the price is not ridiculous for Manhattan and that she believes that buyers may pay over the asking price.
“We’re not talking about really big numbers here, at $1 million,” she said. “It will be more about getting it. I think people will bid above what the asking [price] is.”
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