In New York City, garage is spelled with a $
We're sure there are plenty of reasons some people would want to live in New York, but it's hard to see why a car guy would want to. Forget the traffic, the kamikaze cab drivers and astronomic insurance rates. Even if you can put up with all that, where the heck are you gonna park a car?
The New York Times' story, "The Ultimate Luxury: A Garage," gives us even more reason to shun The Big Apple as a place of residence. Apparently, New York houses, condos and apartments with garages command about 5% more than those that don't. In some neighborhoods, add 25%. So that means if you have a condo worth $1 million, adding a garage could get you at very least $50,000 more than your car-hating neighbors. One real estate broker estimated that a six-bedroom townhouse he's selling will bring an extra $1 million because of its car accommodations. The townhouse is priced at $18.75 million.
So why aren't real estate owners on a garage-building spree? Because convincing the city's Department of Buildings that you need a curb cut is a long, trying process. The government agency approved only 54 new Manhattan curb cuts in 2008; three less than last year.
And then there's the anecdote of one family paying $6,600 a year to put their car in a public lot. That's enough to convince this bunch of car guys that there are better places to call home.
[Source: New York Times]
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Reader Comments (Page 1 of 3)
Rafael Illan 3:04PM (9/01/2008)
Parking is the near future is going to be a luxury if things keep going like this.
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2007RC46SP2 3:10PM (9/01/2008)
i remember reading something that parking spots can sell for $50,000-250,000.
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Flashpoint 3:19PM (9/01/2008)
I'm a 25 year resident of NYC.
For those of you who've never visited, the only parts of NYC that have parking problems are mid-lower Manhattan, and downtown Brooklyn.
In Manhattan, if you can afford to live in the apartments and have a job in a building there too, you don't need a car at all. It would cost you nearly $20,000 a year to own, maintain and shelter a car in mid-lower Manhattan each year.
Downtown Brooklyn near Court street (government district) is a mess too but parking isn't as expensive as Manhattan. Int he most crowded areas of Brooklyn, they'll let you park for $20 for around 2 - 4 hours because there are movie theaters nearby.
Staten Island, Queens and the Bronx aren't neccessarily bad for parking. In Queens, the average park rate is about $3 per hour since their is more land and less crowd.
still, public transportation is the best way to go in most parts of the city due to our extensive subway/ bus networking.
In Midtown Manhattan, they tried to charge me SUV rates on my Mercedes Benz S550. They did the same to me for my fiance's Chrysler 300.
A 300?
Double size?
COME ON MAN ! That's ridiculous.
a 300 is the same length as a Honda Accord.
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berne1 3:55PM (9/01/2008)
I didn't know there is a downtown Brooklyn.
berne1 3:57PM (9/01/2008)
I didn't know there is a downtown Brooklyn. Learn something new every day.
Torrent 5:52PM (9/01/2008)
That's why you get a SMART.
Shadyman 12:28AM (9/02/2008)
@Torrent:
Half-price? :)
Hank 3:22PM (9/01/2008)
I think these prices are somewhat shocking to those of us living in the 'burbs where FREE PARKING is usually taken for granted, lol
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asolar 10:01PM (9/01/2008)
Are you sure parking in the suburbs is free? It's subsidized, sure, but you pay for it in other ways, such as through increased prices, passed on from higher rents, and increased taxes through a smaller tax base. The space devoted to surface parking is space that could be used for something that produces tax revenue or private revenue. Of course, I imagine this is all more pronounced in the denser suburbs.
Flashpoint 3:24PM (9/01/2008)
If your a rich executive living here, you have no reason to "shun" NYC as a place of residence.
Manhattan is thriving with theater culture, night clubs, women and lounges. Even at 3 AM there is plenty to do here.
Even if your middle class or working poor, you can live in Queens or Brooklyn and commute into the city. Its just a 3 mile drive across the bridges into Manhattan or a 10 minute train ride.
I've lived in Shinjuku-Ku Tokyo, Shanghai China, Beijing China, HangZhou China and a few other places. THERE IS NO CITY LIKE NYC with the exception of maybe LA, California.
I loved Tokyo but the small size of everything and the crowdedness was offputting.
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JC 3:32PM (9/01/2008)
I was amazed at how expensive it is even here in Toronto...and not even downtown.
A friend of mine bought a condo for $250,000 in what could be considered 'midtown', and declined to pay the extra $25,000 it would've cost to get a parking spot. The condo is right on the subway line, so she didn't need it.
MajorGeek 4:50PM (9/01/2008)
Thats simply an opinion. NYC is also loud, dirty and congested. Theatres and bars are not my idea of fun. Of course, I live in Central New York in Syracuse Suburbs where we think nothing of outdoor activities like running, bicycling, motorcycles, ATV, skiing and much more. NYC I do like to visit because so much is there, i just feel suffocated there although some areas of Manhattan and Brookly really are very pretty for a croded area.
LA is ok, but of all the places I have seen, if I had to pick a large city, it would be SanFrancisco. Beautiful architecture, rolling hills, water and plenty to do anytime. They tend to keep it pretty clean as well, at least I thought so.
Mark Ryan 9:58PM (9/01/2008)
Uh, have you been to Los Angeles? I haven't been to Manhattan, but Los Angeles is absolutely nothing like what you described. Terrible city.
Flashpoint 3:25PM (9/01/2008)
In Long Island, near NYC, parking is all suburbian. Malls are expansive and all venues have adequate parking because the culture of Long Island is mandatory car ownership.
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Kumail891 3:29PM (9/01/2008)
i live in orlando! :D
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hax0rkill3r 3:44PM (9/01/2008)
A better option are the new apartment buildings in Manhattan in which you drive into a car elevator that brings you up to your apartment. Step out of the car, through a door and into the apartment. $$$
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MrStol 3:50PM (9/01/2008)
try stinky London in nasty wet Blighty, a parking bay goes for aprox. £50K excl. Congestion charge and they just love to tow your car, the bastards!
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Poppe 3:57PM (9/01/2008)
I'm in LA, and what's important to me? Two things, not having Tandem parking (I F*ing hate tandem parking), and a washer and dryer in the unit. I paid a little bit more a month to get into a better place that had both those things.
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Artie Lange 3:58PM (9/01/2008)
Welcome to the future. Cities everywhere are starting to become less car-friendly as they try to move the populous to mass transit. As for Manhattan, its a popular place for very, very good reasons, and even if you can't afford to live there, there are many who can.
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Dio Italiano 4:17PM (9/01/2008)
I'm a life long New Yorker been there & done that. I don't live in Manhattan but I spent a lot on my teenage-college years there & presently work here & I know what I'm about to say won't be popular but here it is......Manhattan and New York..... in general is way over rated. It's a friggen' rat race. Old buildings, noise, traffic & dirt. The cost of living or just hanging out in NYC is outrageously overpriced and isn't worth it. The people are jerks, snobs & cut throats & the women....for the most part they're skanks that walk around with chips on their shoulders.
Flashpoint had mentioned the theater, culture, night clubs, women etc... I'll be honest with you, that gets old really fast. I'd take a young college town over NYC everytime. Basically it's a great place to visit but not to live.
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