Manhattan parking spot going for $225,000

http://biz.yahoo.com/cnnm/070712/071207_parkingspots.html?.v=4

Manhattan parking spot going for $225,000
Thursday July 12, 11:38 am ET

Parking spaces in New York cost as much as $225,000 and could soon be going higher still, putting the cost for the prime spots above the price tag of the typical U.S. home price.
Manhattan real estate agent Tom Postilio said there is a waiting list of seven or eight people hoping to pay $225,000 for one of five private parking spaces that has been approved in the basement of 246 West 17th Street, a 34-unit condo development scheduled for completion next January.

The developer of that building is seeking permission to add another four spots, and Postilio said the addition spots are likely to cost even more than the current price, although he could not give an exact price.

...

Part of the reason for the pricey spots in New York is city rules controlling new residential buildings in most of Manhattan that limit spots to about 20 percent of the units, according to The New York Times, which first reported the $225,000 price tag in an article Thursday.

WTF

I couldn't even think of living in that parking spot

I'll be on call for him.

make him responsible for finding legal parking places on street cleaning and snow days, and keep him on cell phone service for car retrieval.

in Boston was about that many years ago, as I dimly recall. Parking on Beacon Hill is nighmarish, to say the least. I rented garage space out in the burbs when I lived there, would take mass transit out to fetch the car when I needed it to do errands outside the city, maybe three times a month in the winter, and when I wanted to do day trips and mini vacations in the summer.

It sucked, but it worked.

That's outrageous!

Manhattan is probably the most expensive real estate in the USA, and you can't necessarily make valid comparisons with other parts of the country. Studio apartments (and not even particularly big ones) in prime Manhattan neighborhoods sell for $500,000. In most parts of the USA $450,000 or $500,000 would buy you a friggin' mansion, not one small room. A ticket to the movies here (11:00am show on a Sunday!) costs $11.00. You have to remember that Manhattan is a small island with a bazillion people crowded onto it. Space is literally at a premium and you pay for it.

Which means an apt the size of my garage would go for a half mil. Not having to own a car, priceless :D