Luxury boat shed with no bathroom, bedroom sold for $1.25M; see photos

A 700-square-foot converted boat shed in New Zealand sold for a record $1.25 million late last month.

Despite this, the tiny historical property at Whakatakataka Bay, Ōrākei, ratcheted up the highest price ever paid in New Zealand — that's just over $2 million in local dollars — for a boat shed, the Herald on Sunday reported. The boat shed's roadside entrance is somewhat underwhelming. Despite the money involved, the buyer actually receives no land, nor leaseholder or freeholder title with the property.

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