The parking spot on East 11th Street, which is undergoi... The parking spot on East 11th Street, which is undergoing renovations (Google).
The most expensive parking space in New York City history is now for sale.

The $1 million price tag for the 23-foot-by-12-foot slab of space on East 11th Street has already provoked a wave of reactions from experts. Depending on your location, and perhaps the size of your wallet, the cost of the space is:

A) A sign that the convalescing real-estate market has returned to full health.

B) An ostentatious and tone-deaf display of excess.

C) A desperate indication of how parking-poor Manhattan has become.

To a prospective buyer, the cost of the space might be tempered by a need for privacy. "You can drive in and not be seen again," Prudential Douglas Elliman vice chairman Dolly Lenz tells the New York Post. "It's for the type of person who finds that attractive."

The spot is currently set for single-car usage, but the next owner, Lenz says, could opt to add an elevator to double capacity. The space will not be offered to just anybody. A developer in charge of renovating the eight-story loft is converting it into six luxury condominiums.

Although the parking spot comes with a separate deed and sales contract, the buyer must reside in the building.

The $1 million asking price for the spot is more than six times the national average of the price for a single-family home. A driver could pay New York's $115 ticket for illegal parking every day for 23 years – and still pay less than the buyer of the million-dollar spot.

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    • 1 Second Ago
      • 3 Years Ago
      • 3 Years Ago
      If yer wer smurt enuff ta steel enuf grnma's retererment savin;s ya ken bi this an a cupla senators an da hunorible gennelmun frm VA Misa ERIC CANTER four yer laki.
      • 3 Years Ago
      rotflmfao who cares !!!!!!!!!!!!!!!!!!!
      • 3 Years Ago
      hey hilandercl really bill gates money i would buy 10 of them and he wouldnt even feel liek he spent any money
        • 3 Years Ago
        LEEZBON5. what you posted makes NO sense at all!!!!!! read what you posted. you sound like a moron.
      • 3 Years Ago
      Bitch all you want about conspicuous consumption. Whine about the rich getting richer(see Sir Romney). Be angry, sad, frustrated. Say out loud you would never do it. But in the end, you are probably more like me: if I were earning over $1,000,000 a year, and drove any nice to fabulous car, AND wanted to live in NYC, I would buy that place and the best of the condominiums above it in a heartbeat. If I were that person, while i might be sympathetic to those less fortunate than I and might give to many charities to help those same people, I would want my STUFF safe. And if i lived in NYC I would have to have at least one car and some motorcycles to escape to my country place once in a while. So let's be honest here shall we? paul tallahassee
        MIKE HALL
        • 3 Years Ago
        Paul ,you are one of the few honest posters, of course we would all love to be rich ,and only those couch potatoes sitting on their behinds , waiting for obama to tax the rich and give more to them, will cry. If the truth be told ,they would all love to be rich,just like the rich, and only lazy people, and jealous people can never climb that tall ladder to riches.
      • 3 Years Ago
      Only goes to show how totally krazee & out of line our country has become. Sad commentary.
      • 3 Years Ago
      Rack Conveyor Installations Inc. has installed many Phantom Park car lifts. Turning One car units into two car units. And will do this one for free, just pay travel, per diem.
      • 3 Years Ago
      If you own a vintage Barchetta or a supercar (or something fitting of that level of privacy and protection), you're already loaded and it's well worth it. I don't see why people are getting mad about this unless they know for a fact the future owner got their money though a ponzi scheme.
      • 3 Years Ago
      AVARICE AND GREED knows no bounds
      • 3 Years Ago
      This is news?
      • 3 Years Ago
      the owners should turn it into a studio during the renovation & ask 2 million. wth???!!!
      Your Highness
      • 3 Years Ago
      Glad I only read about NYC instead of living there....eeek
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