People are shocked after hearing about a parking spot in San Francisco that will charge its customers $100,000.
And it makes total sense since this much amount can buy anyone a convenient house in most parts of the United States.
The agent who is demanding such a large sum of money claims that he is being constantly contacted by people for the parking spot.
Find out more in the video below.
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Video credit: Rumble
This, one of the most unusual pricing strategies, was shared by Bill Williams with Compass Real Estate.
He said: “One block from the ballpark and one block from the Embarcadero so it’s not only a good place to park your car, and to park your money.”
Well, the reason might be that the parking spot is situated in one of the highly coveted and envied neighborhoods of the city, South Beach.
Williams said: “I had a picture of it and everything and my phone was ringing off the hook. Because people thought $100,000 for property in San Francisco they were clamoring for that.
“It’s all driven by supply and demand. We’re surrounded by blocks of multimillion-dollar properties and they came with one parking space.”
Since the average parking price in adjacent areas is just $15, neighbors from Townsend building were really stunned at the news.
“It’s ridiculous,” responded Peggy Chou.
Enforcing on his deal, Williams said: “The thing that makes it so unique is that you don’t have to live in the building to use it.
“So, somebody might just want to have their private parking for when they go to the ballpark or to park their antique car.”
Sirine Khalifa who noted that parking tickets are priced at $72 around the Townsend proposed that $100,000 should be used for some good purpose instead.
She said: “For example for the homeless people there are a lot of people living on the street and for me that is not very human.”
Parking enforcement officer of San Francisco, Henry Luong, said he too was surprised by looking at the listing.
“One hundred thousand dollars for a spot, no that’s too much,” said Luong. “You just have to be careful, just follow the rules.”
Well, the person who’ll purchase the parking spot will also have to pay the monthly HOA fee of $28 besides the property tax.