by 3 Cylivers
Snapshot
The page may have changed since the time the snapshot was taken. [go to current page].
CNNMoney.com
Manhattan parking spot going for $225,000
Thursday July 12, 11:38 am ET
Parking spaces in New York cost as much as $225,000 and could soon be going higher still, putting the cost for the prime spots above the price tag of the typical U.S. home price....
..."Supply and demand being what it is, there's probably going to be an increase," he told CNNMoney.com....
....The paper says that property appraiser Miller Samuel estimates that the average parking space in the expensive neighborhoods of Manhattan now costs $165,019, or $1,100 per square foot. That compares to an average apartment price of $1,107 per square foot.
Sometimes the parking spot costs more than the finished space in the same building. The building at 246 West 17th Street with the $225,000 parking spots has two-bedroom, 2-1/2 bath 1,717-square-foot units listed for $2.2 million. That works out to $1,281 a square foot, while parking spot costs about $1,500 a square foot.
That building isn't the only one which is seeing prices rise before tenants even move in. The paper reports that another 52-unit condo under development in the city's Chelsea neighborhood had its first two spots go for $165,000, the third for $175,000 and the last two for $195,000....
