How Much Does It Cost to Buy a Parking Spot in Manhattan?

by

Parking Rates in Manhattan

  • Spots in Manhattan can cost as high as $200,000. Rates can be even higher for new developments downtown.
  • Hourly rates range from $1.25 to $7.50.

Monthly Parking Costs

  • Monthly prices for a garage or valet spot in Midtown Manhattan start at $443. An average parking spot in Manhattan can cost you an extra $570 a month.
  • 10×10 spaces are the most popular monthly rentals in Manhattan. The cheapest were $520, $4,000, and $4,999 last 24 hours.
  • Neighborhood monthly prices:
    • Midtown Manhattan: $450 – $650
    • East Village: $300 – $600
    • Harlem: $400 – $750
    • East Harlem: $200 – $500

Profitability of Parking Lots

  • Parking lots can be a very profitable niche within real estate, but potentially a risky one.

Special Parking Services

  • ParkRoll offers hassle-free, pre-booked parking with specials like 15% off daily rates.

Most Expensive Parking Spot

  • The private garage at 66 E. 11th Street in Manhattan is the city’s first million-dollar parking spot.

Additional Information

  • SpotHero offers parking options near your home or work in Manhattan, Brooklyn, and Queens with self-park or valet.

Leave a Comment