Trying to find parking in New York City can be a challenge, but one condominium is offering its residents a chance to buy their own subterranean parking space – for $500,000.
The New York Post reported the residents of 150 Charles St. in Manhattan are being given the opportunity to pay half-a-million-dollars to own the parking space that were previously available for rental use. There are currently 92 spaces available in the underground parking lot for the 91-unit, 15-story luxury complex.
The property is notable for being home to several wealthy celebrities, including Ben Stiller, Jon Bon Jovi and Irina Shayk. Developer Alex Witkoff explained the pricey parking spaces by observing, “The West Village has a huge parking shortage which will continue to get worse with time, with many locations lacking garages and many buildings converting garages to condos. We offer savvy buyers a rare opportunity to own a parking spot in prime West Village.”
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OK, so there’s 3 sold, good luck on the rest.
I wonder what the rental price is.
Who owns the spaces now? Normally, it would be the association.
So, they expect to make $45 million off of the garage when they could remake it into Condos like others have done?