Well here’s a first for me.
Our Manhattan parking stats were compared with the average value per acre of agricultural land in FarmLife magazine.
In 25 years, the cost of an acre of agriculture farmland rose 309% while a Manhattan parking space rose 855% over the same period. Cost? $7,700 per acre for California agricultural land versus $55.5 million per acre for a Manhattan parking spot.
Gotta love this comparison.
UPDATE A colleague pointed out that we don’t know how large the average farmland was or whether it had reasonable access to water and electricity. I pointed out that Manhattan parking spaces don’t have electric and water service and seem to be about 100 feet from the elevator. LOL.
This is a real eye opener, thanks for sharing Jonathan!