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For Parking Space, the Price Is Right at $225,000

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posted on Jul, 13 2007 @ 11:09 AM
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For Parking Space, the Price Is Right at $225,000


www.nytimes.com

For developers in New York, parking is the highest and best use for below-grade space and fetches about the same price per square foot as actual living space, which costs much more to develop. According to Miller Samuel, the average parking space costs $165,019, or $1,100 per square foot, close to the average apartment price of $1,107 per square foot. Those are averages, of course. A $200,000 parking space is about $1,333 per square foot.
(visit the link for the full news article)




posted on Jul, 13 2007 @ 11:10 AM
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Not only are people paying up to $1,333 per square foot for a parking space, but you'll also have to pay a $50 a month maintanence fee! A maintanence fee on a parking space!

I think I'd like to become a Parking Space Realtor!!

"What you get is this lovely concrete parking space, a steal at only $200,000. No plumbing to worry about, no windows, no doors, just this 10'x15' slab of concrete. We'll even throw on a fresh coat of paint!"

These people have waaaayyyy too much money!

www.nytimes.com
(visit the link for the full news article)


[edit on 13/7/07 by Keyhole]



posted on Jul, 13 2007 @ 01:16 PM
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This is a big market in some sections of DC too. I cannot imagine paying so much for a parking space! But if I had one I would definitely rent it out for a profit too



posted on Jul, 13 2007 @ 02:45 PM
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price is no object for some people. Also when you figure out the hourly rate for some of them it makes more sence. If your making $1000's an hour for work, NOT spending time finding parking may actually recoup the cost pretty fast



posted on Jul, 13 2007 @ 03:39 PM
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I'm not surprised at all. I'm lucky enough to have bought my Manhattan apartment at a good price about 8 years ago. I could sell it now for probably 5 - 6 times what I paid for it. I'd be rich, but I'd also be homeless!



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