$1 million parking space in New York City to be available soon

By on May 21, 2012 in Lifestyle, United States Comments

The $1-million parking space in Greenwich Village, New York City is now being expected to be available this fall, after the building where it will sit will be fully converted into six luxury condominiums.

$1 million parking space soon to be

Garage of the building at 66 East 11th Street, where
the $1 million parking space will be built

Image Credit: Google Maps

According to The New York Post on Sunday, May 20, 2012, the upcoming $1-million private parking lot, located at 66 East 11th Street, in Manhattan, will be the city’s first million-dollar parking space to be available in the market.

As noted in the report, the said luxurious private garage, which measures about 12 feet wide, 23 feet long and more than 15 feet high, will cost six times more than the national-average price of a single-family home, or like paying a $115 ticket for illegal parking every day for 24 years.

“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.” Prudential Douglas Elliman Vice Chairman Dolly Lenz was quoted in the paper.

Apparently, that $1-million parking space will have its own deed and sales contract as well as maintenance fees, just as any condo unit would have; and its owner will be allowed to add a car elevator to fit a second vehicle since only one car will fit in it.

Nevertheless, this super expensive amenity is only a part of the 8,000 square-foot penthouse with a 3,000 square-foot terrace, which will be available for $38.8 million; after real estate mogul Morad Fareed reportedly bought the entire space of the eight-storey building last year for $120 million.



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