50 Gramercy Park Apartments with Parking

Dedicated parking in the city that never sleeps in Gramercy Park, Manhattan

NYC Apartments With Parking for Sale

Parking in New York City is a premium most buyers underestimate until they are living without it. In my 25+ years in this business, buyers in Forest Hills, Riverdale, and parts of Brooklyn tell me building parking was the deciding factor, because the alternative was $400-$700 per month in a nearby commercial garage. Understanding how parking is structured and whether it transfers with the apartment is one of the most overlooked items in an NYC purchase contract.

FAQ: Does a parking space automatically come with the apartment?

Not automatically. In a condo, a space may be a separate deeded unit or a license agreement. In a co-op, shares are allocated separately for parking. Always confirm in writing whether parking is included in the asking price and how it is legally structured before submitting an offer.

FAQ: What do parking spaces cost in NYC buildings?

In Manhattan, deeded parking has sold for $100,000 to $300,000+. Monthly garage fees run $350-$600 in outer boroughs and $500-$900 in Manhattan. Evaluate the all-in monthly cost relative to comparable commercial parking. Browse apartments with parking on our NYC property search.

FAQ: Can I rent out my parking space?

Potentially, but building rules control this. Some buildings allow subletting to other residents; others restrict it entirely. Renting to someone outside the building is typically prohibited. Request the parking rules before closing. See our NYC buyer guide for more.

Buying Tip from Milton Coste

In outer-borough neighborhoods with lower transit density, a building garage space is often worth more as a resale feature than buyers recognize at purchase. In Manhattan below 96th Street, most buyers are not car owners, so bundled parking may not add proportional resale value. Tailor how much you pay for parking to how much the next buyer in that market will value it.