Friday, January 21, 2011
How much is a parking space worth? How about $85 million for the whole lot
Crain's New York reports on a 12,000 square foot parking lot that the owner is trying to sell for $85 million. It looks like there are about 60 or so attended spaces (see photo above). Obviously the value is the lot is from what might be built, not from the parking revenues, which are $22 for nights and weekends. I'm not sure what the day or hourly rate is.
In any event, that's a lot of dough for a parking lot. You can almost buy the Dodgers with it.