Articles on Congestion Pricing

Manhattan Condo Buyers Prize Private Parking More Than Ever

Manahttan parking trends and condo buildingsIf there is ever a bigger complaint that New Yorkers have about commuting by public transportation in the city, it would most likely be driving and finding viable parking options in Manhattan. The Department of City Planning recently revealed a report on the parking trends in Manhattan over the last three decades and the numbers are glum to say the least. The number of legally designated off-street parking in Manhattan has declined by close to 20 percent (from 127,000 to 102,000) since the 1980s. For many buyers who are looking to purchase a luxury condo in Manhattan, the inclusion of an on-site parking garage is just as big a deciding factor as a fireplace or walk-in closet. Contrary to intuitions however, many developers are reluctant to incorporate residents parking in new residential constructions.