The “Car Condo” Is Becoming a New York City Fixture

Way back in 2014, we reported that a parking space in a luxury Soho condominium had sold at a price that cracked the mythical $1 million barrier. Three years later, a humble garage in Brooklyn’s Park Slope was selling spaces for the bargain price of just $300,000 that came with all the typical condo amenities, including a $240 monthly maintenance fee and $51 in monthly taxes.

Today, with a boost from the coronavirus pandemic, the expression “car condo” has cemented a place in the lexicon of New York City real estate. The parking company Centerpark has converted an Upper East Side garage at 301 E. 69th St. into a car condo, Crain’s reports. It’s selling 23 parking spaces, and has hired a luxury real estate broker to market them for sale to the public starting at $199,000 and possibly going as high as $350,000 each.