One Pandemic Real Estate Bet: Condos for Cars

The possibility of many more urban dwellers driving than ever before, even in transit-rich locations like New York City, is still very real.

1 minute read

August 13, 2021, 5:00 AM PDT

By James Brasuell @CasualBrasuell


Empty Parking Garage

Comrade Foot / flickr

"A Manhattan garage operator is betting that city dwellers in the Covid age are driving more, and would pay a premium for a personal place to put their cars," reports Oshrat Carmiel.

"Centerpark converted an Upper East Side garage into a condominium -- but instead of apartments, it’s selling 23 parking spaces, and hired a luxury real estate broker to market them for sale to the public for as much as $350,000 each."

Kirsten Jordan, the Douglas Elliman Real Estate broker who’s marketing the units, is quoted in the article saying the new, Covid-era twist on adaptive reuse is designed specifically in response to anticipating the needs of New Yorkers with no plans to return to the subway.

The data would seem to support that assumption, according to Carmiel, even after so many months of pandemic living. "As of mid-July, weekday subway ridership had plummeted 54% from the pre-Covid days, according to the Partnership for New York City. The number of city-bound travelers on the suburban commuter rails was down more than half."

The increased demand for parking in New York City has also been evident in the political controversies regarding outdoor dining and bus-only lanes around the city.

Wednesday, August 11, 2021 in Bloomberg

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Close-up of park ranger in green jacket and khaki hat looking out at Bryce Canyon National Park red rock formations.

National Parks Layoffs Will Cause Communities to Lose Billions

Thousands of essential park workers were laid off this week, just before the busy spring break season.

February 18, 2025 - National Parks Traveler

Paved walking path next to canal in The Woodlands, Texas with office buildings in background.

Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50

A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.

February 19, 2025 - Greg Flisram

Small rural USPS post office in manufactured one-story grey building with American flag in front.

Delivering for America Plan Will Downgrade Mail Service in at Least 49.5 Percent of Zip Codes

Republican and Democrat lawmakers criticize the plan for its disproportionate negative impact on rural communities.

February 12, 2025 - Cowboy State Daily

Chicago

Test News Post 1

This is a summary

April 8 - 2TheAdvocate.com

test alt text

Test News Headline 46

Test for the image on the front page.

March 5 - Cleantech blog

Military humvee driving through gate at Fort Indiantown Gap Natl Guard training center in Pennsylvania surrounded by winter trees and dead leaves.

Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species

The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.

February 24 - Esri Blog