Who Has Enough Cash Floating Around To Pay $1 Million For A Parking Spot?

Circling the block repeatedly hunting for a free parking spot is for peons, apparently. If you really want to be burning cash, what you need is a parking spot that comes with a hefty price tag. Say, $1 million for an indoor spot in New York City? That sounds about right, if you’ve already got a bank vault full of gold to swim in.

The New York Post says the $1 million golden spot is roughly the equivalent of paying a $115 ticket for illegally parking every day for four years. Or, about six times more than the national average price of a single-family home.

So why’s it such a money spot? It’s located inside an old parking garage that is now being turned into luxury condos in the city’s East Village, and would offer whoever parked there complete privacy when going from car to home. Even fancier — the owner could install an elevator lift so the spot could hold two cars.

The spot will have its own deed and sales contract and will be charged maintenance fees, just like a normal condo. It’ll hit the market this fall after construction is complete in the building.

Who feels kind of icky now?

The $1 million parking space [New York Post]

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