At Long Last, Condos for...Cars

It’s old news that tony condominiums like 42 Crosby Street charge $1 million for a private parking space. And that some luxury buildings have elevators that allow residents to park their car in their apartment – probably because we all love to smell carbon monoxide in our living room.

Now comes a new only-in-New-York amenity: a condo for cars. At The Parking Club, a renovated 130-space parking garage in Brooklyn’s posh Cobble Hill neighborhood, you can buy a parking space for $185,000 and up. Such a deal! Of course that money buys more than a patch of asphalt to leave your Lexus. It also buys “Beverly Hills-style valet service,” according to the New York Post.

This includes pick-ups and drop-offs anywhere in the company’s service area, which runs from downtown to 125th Street in Manhattan, and most of brownstone Brooklyn’s Park Slope, Brooklyn Heights, Cobble Hill and Boerum Hill. Car condo buyers, just like condo apartment buyers, also get to pay $140 in monthly common charges, plus about $200 in quarterly taxes.

“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. “Demand is going to continue to go up … it’s going to become more of a valuable commodity.”