When I Need A Pick Me Up, by my friend Ryan King

Friday, July 13, 2007

WHO Is Making All This MONEY?!?

Check out this mind-blowingly ridiculous article about how much some parking spaces go for in NYC.

But let me highlight what spun my clock dials here;

"Sometimes the parking spot costs more than the finished space in the same building. The building at 246 West 17th Street with the $225,000 parking spots has two-bedroom, 2-1/2 bath 1,717-square-foot units listed for $2.2 million. That works out to $1,281 a square foot, while parking spot costs about $1,500 a square foot.

"That building isn't the only one which is seeing prices rise before tenants even move in. The paper reports that another 52-unit condo under development in the city's Chelsea neighborhood had its first two spots go for $165,000, the third for $175,000 and the last two for $195,000.

One of the buyers of a condo in that building told the paper she regrets passing up the chance to buy one of those spots.

" 'At first, I was getting overwhelmed and didn't want to spend the money,' Cynthia Habberstad told the paper. 'I'm kicking myself now, believe me.' "

Hey Cynthia, let me get some of that action because God knows you do need a good swift one. How do you have the nerve to release your name?

But what really puts spots before my eyes, Calvin and Hobbes style, is how these people are making this money. I've said it over and over, and will continue to do so until I understand. 2.2 million for an apartment. Uh-huh. So that's a down-payment of what? 440K. Alright. So tacking on a 225K parking spot is still not a lot of money?!?

Do you know what I decided to do over the last couple of days? I decided to keep driving my commute to my Teaneck office, instead of the parking at the job solution, because the trip takes me less than 20 minutes. Because I can park on the street, either on Broadway right in front of my building, or up (or down) the streets on either side of my block. I get in the car, drive down Broadway about 7 blocks to the West Side Highway entrance at Dyckman, then down to the G Wash, across, into Jersey on Rt 4., and zip! into Teaneck. And Both in the AM and PM, I'm heading opposite of the traffic flow. I even reported early to work this morning and yesterday morning because of a client need.

That must make me, by circumstance, the most savvy businessman/real estate tycoon this shade of Donald Trump. Because I saved 225K.

Hmmm ... I wonder where I should invest those savings ... ?

[Edited to correct my math. This is why I'M not one of these money-makers. LOL]


Littlewing said...

LOL! Very good post Alan!

Alan said...

But I think my math was off. 20% of 2.2 mil--that's 440 K, isn't it?

Littlewing said...

damn, when the numbers get that high, I am a loss!

Eliel Mamousette said...

The driving thing is all good, but just be careful this car doesn't end up where the last one did--pay those parking tickets as soon as you get them....

Alan said...

Who said there's going to be any tickets this time?

My No Park zone starts at 11AM, but I'm already sitting at my desk in Jersey, with my car cooling in the parking lot, by 8:45.

And when I'm done for the week, the car gets a free pass (read: no alternate side of the street parking) until the next Tuesday, 11 AM.

I am Alan, hear me roar ...