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Spaces are in such demand that there are waiting lists of buyers. Eight people are hoping for the chance to buy one of five private parking spaces for $225,000 in the basement of 246 West 17th Street, a 34-unit condo development scheduled for completion next January.
For example, the average cost of constructing anunderground garage in Boston is $95 per square foot, and the average spaceoccupies 330 square feet, so the average cost of a parking space is $31,000($95 Ã 330).cross the 12 cities, the average cost per space ranges from alow of $26,000 in Phoenix to a high of $48,000 in Honolulu, with an overallaverage of $34,000 per space. For an aboveground garage, the cost perspace ranges from $17,000 in Phoenix to $29,000 in Chicago and SanFrancisco, with an average of $24,000.