Friday, April 25, 2008

EV Etc.: $801,000 for a basement

Well, it is in the Dakota.

From the AP:

While $801,000 may sound like a lot for a basement den that cannot legally be used as a dwelling, it isn't unusual to see well-off Manhattanites paying top dollar for auxiliary space, said real estate appraiser Jonathan Miller.

A 100-square-foot to 200-square-foot storage room in an upper crust building could easily sell for $150,000 to $350,000, if it had a sink or its own toilet, he said.

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