Parking: $1,000,000

"ttyymmnn" (ttyymmnn) 09/09/2014 at 16:11 • Filed to: parking

0

4

A new development in the SoHo District of NYC will be offering 10 parking spaces at the building for a mere $1M apiece.

A new development, 42 Crosby Street, is pushing the limits of New York City real estate to new heights with 10 underground parking spots that will cost more per square foot than the apartments being sold upstairs.

The million-dollar parking spots will be offered on a first-come, first-served basis to buyers at the 10-unit luxury apartment building being developed by Atlas Capital Group at the corner of Broome and Crosby, itself the former site of a parking lot. ( !!!error: Indecipherable SUB-paragraph formatting!!! )

!!! UNKNOWN CONTENT TYPE !!!

IDROVEAPICKUPTRUCK > ttyymmnn 09/09/2014 at 16:17

0

To build the 10 spots, the developer had to get a special permit from the city, which typically limits the number of parking spaces in new buildings to no more than 35 percent of the units.

WTF. I've never understood why apartment buildings in New York didn't always just put a big parking deck in the basement like my grandparents building in Chicago did. Apparently I now have my answer.

DrScientist > IDROVEAPICKUPTRUCK 09/09/2014 at 16:21

0

i suppose this is to discourage the number of cars on the streets. don't know if i agree or disagree with this approach. traffic is a pain, but being a car guy in nyc is definitely not easy.

GeorgeyBoy > ttyymmnn 09/09/2014 at 16:23

0

I would buy all, charge extreme rates to rent them out. Make bank in less than 5 years.

Jordaneer, The Mountaineer Man > ttyymmnn 09/10/2014 at 00:07

0

and I thought parking on the street on my cul-de-sac after my mom took back the driveway was annoying, I'm glad I don't live in a big city where parking costs far more than my house does.