Why investors should scramble to buy parking garages north of 60th Street

It’s not just drivers from the suburbs that will be smarting from the new congestion pricing plan for Manhattan. Parking garage owners in the prime office districts will also be hit hard. While the number of parking garages has increased across Manhattan, the number in Midtown and Downtown have dropped 25 percent in the past decade to 330 lots, according to The Wall Street Journal. Congestion fees are expected to be introduced in 2021, which […]

from The Real Deal New York http://bit.ly/2Z7FkKb

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