You Can Now Buy A Parking Space In Brooklyn For $300,000

Parking Space Union Street Brooklyn (2)

Who buys parking places? Clearly, no one, unless you are a resident of Brooklyn, New York. In Brooklyn, around the Park Slope, it often becomes a mission impossible to find a parking space so. Finally, people have decided to buy these places to get rid of the hassle, even when it costs a whopping $300,000!

In some parts of New York, you can buy an apartment for $300,000 but not in Union Street, Park Slope. Because there, you would be able to afford only a parking space for that price in a garage condominium. People have been buying parking spots at 845 Union Street and the last one sold for $280,000. The one being sold now costs $300,000, and guess what? The prices will go even higher, as predicted by experts.

Source: Travel + Leisure

Howard Pronsky is the owner of the parking garage at 845 Union Street which sells these crazy expensive parking spaces. The owner says that he bought the garage for $29,000 per parking space. When most other garage owners in the area sold their properties to residential developers, the cost of the parking space spiked. The exponential rise in parking prices was caused by the sudden decrease of parking spaces and the manifold increase in vehicles around the town. All that the residents needed was peace of mind, and they seem willing to spend a fortune for it.

It is not only costly but also quite tough to buy the parking space. You have to give proof that you will be able to pay the monthly installments. The additional costs include a $240 maintenance fee and an extra $51 monthly tax. The crazy price of parking space makes the residents prefer public transportation instead. If you are not a fan of public transport, you might need to consider bundling up a serious amount of money.

A resident of Park Slope, Carlota Fluxa said,

“I’m from Spain, where for that amount of money, you can buy a big house with three bedrooms, maybe, in the city.”

If you want to stick to your personal transport, you have to pay the price. So says the listing for the expensive parking space:

“End your parking woes forever. No more looking for a space. No more parking tickets. No more shoveling out your car from a snowdrift.”

What are your thoughts on this crazy expensive parking space? Comment below!


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