New York million-dollar parking place

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'This could be a whole Seinfeld episode,' said one commentator about a pricy Manhattan parking spot. But if you aren't rich, 'No parking for you!' Image: Ian Muttoo/Flickr.CC BY-SA

Anybody who drives regularly in a major metropolitan area knows how ridiculous parking can be these days. You have to be ready to fork out enough for lunch in a nice restaurant, and that is if you can even find a spot to park in. You think that’s bad? How would it be to have the best parking spot available, a very exclusive private parking space in a lower Manhattan apartment building? If you want that space, all you have to do is fork out a cool million. That’s right, a million, but don’t worry, it even comes with its own deed.

New York’s costliest real estate!

The parking place I speak of is located on lower Manhattan Island, at 66 E. 11th Street. When calculated by the square foot, at only 12-feet-by-23-feet and more than 15 feet high, the concrete slab may well be the most expensive pieces of real estate in New York. At that price, AOL Autos pointed out, a driver could park illegally and pay the $115 fine every day for 23 years and still have gotten off with a bargain compared to the owner of this luxury place-to-put-your-car.

[You don’t have to be rich to buy car, second hand or new.]

Luxury accommodations

Morad Fareed, the developer of the eight-story loft building the parking space sits under, is renovating the loft into a six-unit luxury dwelling — five townhouses and one penthouse. The loft it so exclusive that even the shower water contains aloe and vitamin C, the floors are heated, and the air is filtered to ensure a better night’s sleep.

Even with all the amenities that come with these townhouses, the pricy dwellings don’t come with parking! You can purchase a parking spot under the building, and it comes with a deed, but there are restrictions. The owner of the parking spot must also be a resident of the building, and the parking spot has its own maintenance fees that the owner is also responsible for paying.

Dolly Lenz of Prudential Douglas Elliman vice chairman told the New York Post:

“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.”

Six times an average home

One million dollars for a parking space is more than six times the average cost of a single-family house in the United States. Moreover, it houses only a single car. Although the spot could be “duplexed” to fit another vehicle, accommodation like that would not come cheap.

Robert Knackal, chairman of Massey Knackal Realty, told UPI:

“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.”

I will conclude with an astute comment posted below the local NBC piece. Reader Ron Nussle of the University of Miami said, “This could be a whole Seinfeld episode.” Yes, the parking situation has gotten that ridiculous, but Mr. Nussle might want to contract NBC or another network to sell his rights to the sitcom idea before someone else does.


NBC New York
AOL Autos

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