Storage Space in New York Now Costs More Than Your Entire Home
Of all the signs of insanity in the New York City real estate market, this one may be the most jaw-dropping yet: A 200-square-foot basement storage cage in an unfinished Manhattan luxury tower just sold for $300,000. As the New York Post rightly points out, that would be more than the price of the average home in America.
To put that figure in some visual context, I made you the below helpful chart of median home prices in a handful of metropolitan areas, as of the second quarter of this year (using data from the National Association of REALTORS):
So what does $300,000 buy you in one of these New York storage units? Per the Post:
They have no walls, carpeting or shelves but are made of tightly woven crates secured with padlocks. For a monthly maintenance fee of up to $20, they include electricity and security cameras.
You do not even want to know what the three-bedroom Tribeca apartment that came with this cage costs...