What would you do with $664,000 to spend? Buy a house on a quiet property along a lake somewhere? Take an extended trip to Antartica? Buy an expensive parking space? If you’re Kwan Wai-ming, you’d buy the primo parking.
Kwan, an executive at the Huarong Investment Stock Corp, paid $664,300 for a parking spot at an apartment complex in Hong Kong, according to the South China Morning Post, which said the transaction set a new record for the world’s most expensive parking spot. Here’s more from the Morning Post:
He had already spent a total of HK$88.55 million since 2014 for two apartment units, and three parking spaces at the 48-storey complex.
Lot No 14 on the first floor of the tower measures 188 square feet (17.5 square metres), about 40 per cent bigger than the typical space, according to the data and records by the Land Registry.
The price paid by Kwan, 58, surpassed the HK$4.8 million record set last October at 55 Conduit Road at the Mid-Levels, the then world record holder for the costliest car park. Kwan could not be reached to comment.
It’s a staggering amount, even in the priciest real estate market in the world. And it’s a gargantuan sum for me, who doesn’t have $664,000 to spend on parking. The Morning Post says Kwan’s newest parking space could buy a 200 sq. ft. apartment, or a three-bedroom flat. But Kwan needed parking.
What else could you do if you had $664,000?
- Buy a 2017 Rolls-Royce Wraith, with a driver for a year.
- Or a 2017 McLaren 570S—no, three of them.
- Scoop this Jeep Gladiator—plus an extended road trip.
- Eat 664,000 slices of pizza, if you have a $1 slice spot.
- Buy 1,328 clunkers at $500 a pop off Craigslist, if you have the room.
- Go see Dunkirk next month ... 51,000 times.
Or you could buy a parking spot. You have $664,000, I don’t give a shit.