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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.
I've read that surface parking can cost as much as $10,000 per space and subterranean parking can cost as much as $25,000 to $35,000 per space. Of course these figures will change dramatically depending on what part of the country the parking is being built, the scarcity of land, etc. etc.ince a parking lot normally requires 300-350 square feet per car, this would put the land cost decision level at $6,600 to $7,700 per space. EPA's Parking Alternatives guidebook at http://www.smartgrowth.org/pdf/PRKGDE04.pdf contains a discussion of car parking costs.