At more than $3,600 per square foot, it’d be pricey even by the pricey standards of Manhattan apartments. But you can’t live here, unless you drive an RV.
A private garage measuring 12 by 23 feet is set to go on sale this fall for a cool $1 million, making it the city’s first seven-figure parking spot. The New York Post did the math, and the asking price for the garage — located at 66 E. 11th street in Manhattan — is equivalent to paying a $115 illegal parking ticket every day for the next 24 years.
So what makes this parking space worth six times more than a typical family home?
“It’s for someone who wants complete privacy,” Prudential Douglas Elliman Vice Chairman Dolly Lenz, told the Post. With a curb cut at the street and a private entrance to the building, you can go in and out virtually undetected — perfect for celebrities and camera shy moguls.
The spot is only big enough for one car but can be “duplexed” to fit two if the buyer installs a car elevator. Because what’s a few thousand dollars when you’re already throwing down a million?
The space is expected to go to one of the residents of the building, an eight-story prewar loft that is currently being converted into six luxury condominiums.
But the parking spot isn’t the only perk of shacking up in this not-so-humble abode. The building will also feature showers that spray water laced with vitamin C and aloe and intelligent lighting systems that provide residents with a better night’s rest.
Experts think the exorbitant price for this concrete slab is a sign of a revival of the local real-estate market.
“The reality of New York City is that people are willing to pay more for a parking spot than the average person in the country pays for a home,” says Robert Knackal, chairman of Massey Knackal.