Developers in Manhattan have just placed ten underground parking spaces at a new condo complex up for sale.
At $1 million each.
The spaces may well sell out. Just this past May, another
Manhattan developer listed 25 parking spaces for sale at $500,000. The
25 spots all quickly found buyers. That didn’t surprise the developer.
The adjacent apartments, the developer explained to the New York Times, were selling for $47 million.
“Another $500,000 for the luxury of not walking a block or
two and having your own spot,” the developer observed, “I guess it
becomes a rounding error.”
Wealth concentration so extreme
that some people of 'privilege' are spending over four times more for a
parking space than most Americans spend on a home.
taken from here