Parking Spot In NYC On Sale For $300,000

March 8, 2017

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Ask a real estate agent the secret to selling property and they'll say, "Location, Location, Location."  That holds true for any property including a parking space. In the pricey Brooklyn neighborhood of Park Slope, where homes sell for more than a million dollars and rent averages around $3,000 a month, a parking spot is up for sale and is raising eyebrows at its asking price of $300,000. But that ain't all. In addition to the $300,000, a monthly maintenance and insurance fee of $300 is due or the spot is forfeited! Although the booming Brooklyn area, once deemed undesirable, is now a an area of hot property in New York City and is filled with families.  However parking is as rare as an odorless taxi cab! With new building construction replacing other parking lots and garages, it has become a seller's market for parking.  The $300,000 spot is inside the Union Street garage, which is owned by Howard Pronsky, who bought it 30 years ago.  Back then, he says, spots went for around $29,000 each.  Most recently a spot in his garage sold for $280,000. As jaw-dropping of a price we think it is, the $300,000 parking spot is a bargain compared to some parking spaces in Manhattan selling for $1 million. At those prices, I think we'll take the train to work!

SOURCE: NBC 4

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