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. Transcript provided by NPR, Copyright NPR.