The million-dollar parking space

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The number of homes selling for $1 million may be on the increase but would you pay that much for a parking space? Perhaps you would if you were in the market for a condo in New York’s 42 Crosby Street development in SoHO where prices of homes average US$8-10 million. Even so, a million dollars for a parking space works out at between $5,000 and $6,666 per square foot, far more than the $3,100 per square foot for the condo itself! Read the full story.

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