In Manhattan, a storage room in a basement just sold for $800,000. It is 800 square feet — bigger than many apartments in the city, and it's in the Dakota, the most famous residential building overlooking Central Park. The buyer lives in the building and plans to turn the room into a gym.
RENEE MONTAGNE, host:
And our last word in business today comes from one place in the country where real estate prices are not falling. In Manhattan, a storage room in a basement just sold for $800,000. Granted, it is 800 square feet, bigger than many apartments in the city. It's also located in The Dakota, the most famous residential building that overlooks Central Park. In Manhattan, even the wealthiest people are always on the lookout for extra space. The buyer of this storage room is a hedge fund manager who already lives in the building. He says he's turning his pricey new room into a gym.
This is MORNING EDITION from NPR News. I'm Renee Montagne.
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