Developer sells million dollar parking spots in New York City

Atlas Capital Group is leasing parking spots at $5,000 to $6,666 a square foot, The New York Times reports.

The price per square foot of the spaces exceed the condominiums upstairs, which are going for $3,170 to $3,140 a square foot. Over the last year, residential parking spots in Manhattan have been selling for an average of $136,052. “In the luxury market, parking is really one of the key features that distinguish one development from another,” senior managing director of Corcoran Sunshine Beth Fisher told the Times.

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