56 leonard side Ah, New York luxury real estate, where storage costs more than the average American home.

Tribeca superstar condo project 56 Leonard just sold a 200-square-foot storage unit for $300,000, or $1,500 a square foot, The New York Post reported. For reference, the average sale price for existing homes in the US was $260,600 in July, says the National Association of Realtors.

The 145-unit, 60-story development was designed by Herzog & de Meuron. The cantilever-happy project has already hit $900 million in sales, but this latest buy takes the cake — and then lovingly stashes it in the basement.

“It’s unbelievable,” Corcoran Sunshine’s Elizabeth Unger told The Post. “But when you compare New York to the rest of the country, we’re limited with space. We don’t have the garage or basement, and closet space is at a premium.”

The building’s 76 cellar cages start at $72,000 for 40 square feet and $214,200 for 119 square feet, with the option of combining storage units. Residents can also shell out a monthly maintenance fee of up to $20 for electricity and security cameras.

The luxest little storage cage in Tribeca was purchased by the buyers of a three-bedroom apartment. Available units at 56 Leonard range from $2.875 million to $31 million.

Last month, we spotted the cheapest-yet apartment in the development, a 655-square-foot studio asking $1.48 million. Sadly, that unit went into contract five days ago. We reckon that in the land of $300,000 storage space, bargains don’t last long.

Rendering: VUW Studio

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