A condo development in New York City's pricy SoHo neighbourhood is charging for a parking spot as much as it would cost to buy a nice house in Dallas or Seattle — $1-million.

The New York Times reports the 10 underground spots at 42 Crosby St. will cost more per square foot than the apartments upstairs. The parking spots will run between $5,000 and $6,666 a square foot.

The three-bedroom apartments will cost around $8-million to $10-million, or about $3,100 a square foot.

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Brokerage firm CEO Shaun Osher says there are "few to no options" for parking in SoHo, just northeast of the World Trade Center site. He says his firm is "looking at setting the benchmark."

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