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Economy & Business

Bidding War Breaks Out For Small Strip Of Land


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.


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.