Parking becomes a luxury good. Three sites jumped over
the 1-Million-Dollar barrier.
The world's most expensive parking spaces
are in New York, Manhattan.
September 2016, the developement is now on the market: Soho 42 Crosby St.:
They belong to luxury appartements and cost 1-Million-Dollar per space. There are all over 10 spaces in an underground garage available. One space measures up to 18,5m², and 1m² is up to 64.000 Dollar.
Shaun Osher, the founder of CORE, which brings the condominiums to market said: "In real estate, location defines value and parking is no exception to that rule."
Another building, located at 15 Renwick St. in the Hudson Square district, just has three $1 million spaces.
Another parking spot for the same price was announced in Manhatten 66 E. 11th St. Buying the parking space would be the same as paying a $115 ticket for illegal parking everey day - and for 24 years (New York Post, Mai 2012). In Average one parking spot in Manhattan is about $136.000.- (stern, September 2014).
In Meatpacking District or in Soho parking rates for 1/2 hour are at 16, 18, 20 $. This is for a parking space or in a parking garage. Monthly rates over there are between $400.- and $2.500.-. This is denping on service and options. In narrow alleys as Christopher Street, Leroy Street or in the south of the Holland Tunnel you can just on-street parking. Towing the car when illegaly parked is only $375.-. (autorevue.at Juli 2015)
One parking space in Beacon Hill’s Brimmer Street Garage was on the market for $650.000.-, according to Bates Real Estate Report (Boston Mazine, November 2015). The bidding for a parking spot in Boston ended at $560.000.-. The spot is behind 298 Commonwealth Avenue in the Back Bay. Just for consolation: It is a tandem spot and 2 cars can be parked behind another. (NYTimes, June 2013)
A tiny single garage was sold for GBP 360.000.- in London Chelsea. Although a bigger car should get problems when trying to enter it - it is just 13,6m² big. Despite the exclusive price, it is not the most expensive in London, "The Guardian" says. In 2014 a parking space in an underground garage was sold at GBP 400.000.-. It is near to Albert Hall. And in the same year a garage in south London was sold for GBP 550.000.-. at an auction. The garage has about 50m². (The Guardian, April 2014). After BREXIT the market in London should weaken.
However socially acceptable are the prices for monthly parking in Germany. The peak is taken in the cities of München, Frankfurt, Hamburg.
Table: So much is monthly parking in parking garages. Prices in EURO.
So much are spaces in a parking garage per month
A current study shows the most expensive cities in Europe. On top is London, next is Stockholm. So far we do not find the trendsetter Zürich in that table, but parking in central Stadelhoferstreet is about 8.- Euro/hour. (WELT, August 2016)
Table: Parking is luxury in these european cities. Prices in EURO per hour.
In these cities parking is a luxury