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Parking spot on sale for R8m

2012-05-23 11:09

MILLION-DOLLAR GARAGE: The owner of this R8.33-million parking space will most likely be one of the owners of the swanky condo being built in the surrounding area. Would you splash out that amount of money for convenience?

Parking is never easy in most city centres but how much would you pay for the convenience of owning your own parking spot? A developer of a luxury building in New York City's Greenwich Village has listed a parking garage for $1-million (R8.33-million)

The parking space measures 3.66m x 7m parking space which is the equivalent of R312000 per square metre!

According to the New York Post, for the price of medium sized home, the owner of the garage at 66 East and 11th Street can avoid the hassle of finding a spot on the street. The building opposite the parking spot is being converted into luxury condos, with some units being sold for R323-million.


Dolly Lenz, vice chairwoman at Prudential Douglas Elliman, the real estate firm representing the property, says: "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," said Lenz.

A driver would need to wrack up R958 in illegal parking tickets every day for 24 years before reaching the cost of this luxury spot.

The parking spot accommodates a single car though the real estate firm says the owner can add a car elevator for a second vehicle.


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