$1 Million Dollars For A Parking Space?

I think we all know that a lot of things in the New York City area are insanely overpriced, including parking. But would you pay 1 million dollars for a parking space? A new apartment development on 42 Crosby St in SoHO is actually offering underground parking spaces for this absurd amount of money.

From the NY Times

The million-dollar parking spots will be offered on a first-come-first-served basis to buyers at the 10-unit luxury apartment building being developed by Atlas Capital Group at Broome and Crosby Streets, itself the former site of a parking lot. At $250,000 a tire, the parking spaces in the underground garage cost more than four times the national median sales price for a home, which is $217,800, according to Zillow.

Granted, the 3 bedroom luxury condominiums upstairs are ranging in price from $8.70 million to $10.45 million ( The median sales price of a Manhattan apartment is about 920K), but with the majority of Americans living paycheck to paycheck...this is just overkill.