Top 10 Most Expensive Parking Spaces in Existence

Last Updated on November 14, 2017 by Lawrence Berezin

A fun way to start the new year by rating parking spaces

I stumbled upon “Jalopnik” while searching the Internet for news relating to parking tickets, and found this fascinating website. They created a list of the 10 most expensive parking spaces in the universe. Did the parking space in front of your home make it?

If you have any interest in automobiles or auto-related subjects, this website is for you.

Here’s the list.

66 East 11th Street, NYC

According to the NY Post:

“You’ll need a trunk full of cash to park here. The city’s first million-dollar parking space is on the market. The private garage at 66 E. 11th St. costs six times more than the national average price of a single-family home. Buying it would be the same as paying a $115 ticket for illegal parking every day — for 24 years. For moguls or celebrities, however, the rare commodity of a Manhattan parking space inside their building, with a curb cut in the street, is a huge status symbol and selling point.

‘It’s for someone who wants complete privacy,” said Prudential Douglas Elliman Vice Chairman Dolly Lenz. “You can drive in and not be seen again. It’s the type of person who finds that attractive. It could be a celebrity or a business person who is camera shy.’ ”

The size of this million dollar spot is 23 feet long and 12 feet wide. Here are pre and post-renovation views:

Jay-Z’s parking space at the Barclay’s Center in Brooklyn

Jay-Z invested $1M in the Nets back in 2005. One of the perks of his investment is that Jay-Z can park wherever he pleases. Ummm…

GM Building, $1,320 per month

However, one of Jalopnik’s readers proposes a different method of calculating the value of the parking space:

“Reader NYC-2012 explains how some executives in his building pay about $316,000 for a parking space per year.

I work in the GM building in NYC— either the first or second most expensive commercial real estate in NYC.

Some of the big shots in the building drive to work every day and park their cars in the garage downstairs… but instead of purchasing a monthly spot, which required checks and going through the firm, they pay daily with the company credit card.

$66/day * 20 days = $1,320 per month.

If you actually wanted to value that spot, multiply by 12 months and “cap” it at a 5% rate… $1320 * 12 / 0.05 = $316,800.

Not bad for a single spot in a parking structure with easily a few hundred spots.”

Commentary

I just returned from a holiday visit with my “West Coast” granddaughter, daughter, son-in-law, and Moose (the wonder dog). I had a ball with all and miss ’em already. I’m still glowing from the moment when my one and one-half-year-old granddaughter “voluntarily” gave me a big hug. Anyway, I thought this would be a fun way to start off our 2013 holy war against the Evil Empire, and their unjust parking tickets.

What piece of real estate would you guess occupies the #1 spot on Jalopnik’s list? Check out this website, it contains great stuff!