Parking in New York City right now is like a hellish video game you can’t win and you can’t just turn off.
According to a New York Times article from January of this year, the total number of car owners in New York City has sky-rocketed, with car registrations up by 76% in Manhattan and 45% in Brooklyn. And it has only gotten worse in the past nine months. What hasn’t changed is the physical space available for these cars, much less in a city that is already infamous for its congestion of people and vehicles.
To avoid parking on the street, you have to park in a garage, and now to get into one, you need to make a reservation. But unless your crystal ball reminded you to do that, you’re either likely to wait in line or be wholly denied due to zero vacancies. True: parking in NYC has always been catch-as-catch-can, with an occasional exchange of four-letter expletives and empty threats of fisticuffs. But for most who continue to want to own and drive a car in the city, it is now all-out war.
As people return from out-of-town pandemic get-aways, others return to work offices away from home. These folks are in competition with outdoor diners, whose numbers have increased during the pandemic, shutting out about 10,000 parking spots in the process. And they’re all in competition with the folks who never left home and have always counted on being able to park within close proximity. City parking can be maddening.
So what do you do? Sell your car you haven’t come close to finish paying for? Tack on another two hours to your 10-hour work day and take public transit? Or perhaps tack on another several hours (and how much in added stress, anxiety and upset?) to search, perhaps endlessly, for street parking every time you use your car?
Chances are you’re in this predicament because your time is valuable. And you don’t have time to waste. It’s time to consider buying a spot.
Help is on the way
There is no MLS for parking spots, and some investors are buying parking garages to create “condos for cars” and real estate agents are now a resource to access them. So if you are struggling with city parking, rest assured: there is a parking garage with spaces for sale coming near you soon.
The perks of buying a parking space
In addition to the time you will save (which is huge), think of all the headaches you can spare yourself. No more distracted driving while your toddler screams in the back seat. No more unspoken, or worse, explicit confrontations with other frustrated parkers. You can lean on the certainty that when you go to work, or come back home, you know where you will park. Even if you have to walk a couple blocks, the knowledge that you have a guaranteed spot for your car, is golden. Also, you will reduce your contribution to the greenhouse gasses because you are spending less time idling or circling in your search for a parking space. Lastly, your parking space is an asset. And like any other asset, it will appreciate in value.
Contact us if you want to explore the option of winning a parking space in Manhattan while they last!