Tuesday 16 January 2018

New York parking space on sale for $1m – maintenance fees extra

Dolly Lenz of real estate agent Prudential Douglas Elliman said of the million dollar space: 'It's for someone who wants complete privacy'
Dolly Lenz of real estate agent Prudential Douglas Elliman said of the million dollar space: 'It's for someone who wants complete privacy'

Rosa Prince in New York

A PARKING space with a million-dollar price tag has gone on the market in New York City.

The spot, in a private garage in downtown Manhattan, costs the same as paying for a parking ticket every day for 24 years, and around six times the price of an average family home in the United States.



At 12-feet wide, 23-feet long and 15 feet high, the buyer has the option of installing a lift to turn the space into a “duplex,” enabling them to park two cars at once.



The $1 million (€782,000) spot comes with its own deed and the buyer will have to pay maintenance fees when it goes on sale.



It is expected to be sold to a resident of the six-apartment luxury condominium which is being developed above it in a pre-war loft apartment building.



It includes an 8,000 square-foot penthouse with a 3,000 square-foot terrace, which will go on the market for just under $40 million (€31.2 million).



Parking spaces in garages below apartment buildings are highly prized in Manhattan, where on-street parking is hard to find and expensive.



Dolly Lenz of real estate agent Prudential Douglas Elliman said of the million dollar space: “It’s for someone who wants complete privacy.



“You can drive in and not be seen again. It’s for the type of person who finds that attractive.



“It could be a celebrity or a business person who is camera shy.”

Telegraph.co.uk

Promoted Links

Today's news headlines, directly to your inbox every morning.

Promoted Links

Editors Choice

Also in World News