New York Parkers are Pikers at $575 a month

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New York Parkers are Pikers at $575 a month

It seems that folks wanting an unreserved parking space in Midtown Manhattan are willing to pay upwards of $575 a month.  However, that’s not the most on the planet.  London’s west end tops the list with rates over $800, with Central London, Hong Kong and Tokyo higher than New York City. Article here.

According to those who know, parking rates seem to mirror office building least rates, with Midtown office space having just passed the $50 a square foot mark.  The lowest monthly rates? Memphis, TN, at $20.

All these are "median" rates which means there are as many above this rate as there are below it. WOW! That means half of the folks in the West End are paying MORE than $800 a month for parking. My guess is you could lease a top of the line Jag, Lexus, Merc, or Beemer for less than it costs to park it.

Is this a great business or what?

J

John Van Horn

John Van Horn

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