NYC’s notoriously pricey parking spots invade a new borough
S residential buildings continue to replace parking lots around NYC, finding space for your car has never been harder.
But drivers looking to buy their own space should now have hope. The Parking Club, a renovated 130-space parking garage at 185-187 Pacific St. in Cobble Hill, has just launched sales with pricing from $185,000 per spot.
It’s not the city’s first parking garage “condo” — garages whose spaces sell as deeded condominiums — but it’s the first to pair those spaces with Beverly Hills-style valet service for buyers.
Thanks to a partnership with valet app Luxe, owners get pick-ups and drop-offs anywhere in the company’s Manhattan and Brooklyn service areas. In Manhattan, coverage runs to 125th Street and, in Brooklyn, across a swath including Park Slope, Brooklyn Heights, Cobble Hill and Boerum Hill. Valet service also includes gas fills, car washes, monthly maintenance and yearly registration inspections. Should owners want to pick up their rides themselves, the 20,000-square-foot facility also sports a lounge with newspapers and coffee, where they can wait until their wheels are delivered.
“As parking continues to disappear, I think it’s an opportunity for developers going forward to build parking developments,” says Jamie Anthony of Lonicera Partners, which developed The Parking Club.
It sounds profitable for developers, and buyers also get a deal. Just like a condo apartment, space owners pay common charges ($140 per month) and taxes ($200-$230 per quarter). Most of all, a number of new residential developments, like 565 Broome Soho and 42 Crosby, include parking in their plans, but they’re reserved for homebuyers. At the latter, spaces cost a cool $1 million apiece, so The Parking Club’s costs are a steal for folks unwilling (or unable) to shell out for sevenfigure parking spots.
Sales are being handled by Compass.