Unparalleled NYC Parking Spot Up for $1 Million

By Mark Russell, Newser Staff

New York has long been home to some of the most expensive apartments in the world. But now the city that never sleeps is getting a new icon of excess -- a $1 million parking spot, reports the New York Post. Buying it would be the same as paying a $115 ticket for illegal parking every day for 24 years, notes the paper.

The 12-by-23-foot spot is located on East 11th Street inside a former eight-story parking garage, which was bought for $120 million and is now being turned into six luxury condos with inside parking.

"It's for someone who wants complete privacy," said one financial high-flyer. "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."

Interested, but unwilling to pay more than, say, $500,000? Good news: You could essentially pay that per car. The spot is 15 feet tall, meaning it could be outfitted with a lift that would allow for the storage of two vehicles.

--Written by Mark Russell of Newser