Saturday, May 17, 2008

Hot Bargain!

Here's a bit of complete insanity.

In Brooklyn, you can buy a parking space for $100,000. Yes, that's right. A space. Not even a garage.

But wait! There's more!

Once you buy this tiny space, you still have to pay $220 a month PLUS $37 a month tax.

There is something seriously wrong with real estate in this part of the world. (And with people who insist on owning cars in places where there is no compelling reason to own a car.) Though I have to admit, I feel smug right now about my single-car garage I bought for $25,000 in 2004.

6 comments:

Anonymous said...

What sort of maintenance could they possibly do in a garage for $220/mo/spot?

Aren't condos run by non-profit organizations of tenants so they break-even?

Marie said...

I have no idea. It doesn't cover taxes, since they pay those separately. Maybe there is a security guy with a salary?

detroit dog said...

When I lived in Park Slope 10 years ago, the going rate at a garage on Union Street was minimum $35k.

With all the foreclosures going on, it would be interesting to see how garages/parking spaces are affected.

Marie said...

Park Slope: You might as well live n Manhattan.

Anonymous said...

Hey hey hey! There IS a diff tween living in Manhattan and living in da Slope. However, in just 4 short years the Slope HAS changed and now it's trendy to live there and the construction that is going on really blew my mind (we visited last June for a week). All these high rise condo/apts of chrome/steel whatever. Ruins the charm of the old raildroad flats and brownstones. Da Slope definitely has a diff "feel" than Manhattan. but I'm biased. I loved loved loved living in da Slope and I loved being so close to Prospect Park. However, I needed a change - hence the reason I don't live there anymore. But you know that parking anywhere in the city is ridiculous. I really liked the sharing car idea --can't remember the name of the company but I knew people who used it. Biggest thing I miss about NYC is the ease of Mass Transit. Something they ARE working on here in NM but still it's not convenient nor timely enuf for me to use it for commuting, etc. here in the wilds of ABQ.
cheers, Paula B.

Marie said...

It's called Zipcar and it's awesome! Can't imagine why anyone would buy a parking spot for that amount of money when they could just use Zipcar.

I never lived in Park Slope but now I don't think I could afford to, given how prices have skyrocketed there.