Where Did All the Money Go? New Yorkers are in Trouble!
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Discusses the Colliers International study which states that Midtwon and Uptown Manhattan are respectively the 1st and 2nd most expensive places to park in the USA.
Four Months ago Colliers International did a nationwide survey of 49 metropolitan areas on monthly parking rates. Earlier this month they did yet another survey; and what did they find? The average cost, monthly, to park in a Midtown Manhattan garage isn’t $491.80 anymore - it jumped to a whopping $574 , in only 4 months! This represents an increase of over 14% and Downtown Manhattan experienced a similar increase of 11% for average monthly garage parking, from $444.40 to $500. With gas prices only getting worse everyday, New Yorkers are losing massive amounts of money to their cars, and fast.
How can New Yorkers save?
While one possible answer is to move to an area like West Palm Beach which charges only $8 for 24 hours of parking, not a whole lot of New Yorkers can actually take that option. So what should New Yorkers and those who frequent Manhattan do? The answer is information - knowing not only where you can park on the street for free, but when you can do it. Of course, there are times when parking on the street just doesn't work. In these cases, information is still the answer. Know as much about the parking garages as possible in the area(s) that you will frequent - what are there rates? Hours of operation? Do they have special promotions and discounts? Very often, one can cut the price for parking in a garage in half, simply by parking a block or two away. As the saying goes, "Knowledge is power".
Copyright 2006 Rhythmo Productions
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