Bidding War Breaks Out For Small Strip Of Land
RENEE MONTAGNE, HOST:
And today's Last Word In Business is bidding war. The real estate market has been heating up in some popular locations - like the Hamptons.
STEVE INSKEEP, HOST:
And this week, two Wall Street types competed for a narrow lot bordering both of their properties there. And when we say narrow, the strip of land is almost 1,900 feet long - 1,900 feet long and 1 foot wide.
MONTAGNE: At one end of the lot is the Montauk Highway; at the other, the Atlantic Ocean. The county had intended to sell the strip of land for $10, maybe. The winning bid was $120,000.
INSKEEP: You know what they say about beachfront property - they're not making any more of it - not even 1 foot more. And that's the business news on MORNING EDITION, from NPR News. I'm Steve Inskeep.
MONTAGNE: And I'm Renee Montagne.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.