I am trying to determine the value of a parking garage in NYC that is below a property I have been asked to underwrite a loan on. I was wondering if anyone was familiar with key parking garage metrics as well as a source for finding comp garages and rates.
I tried searching around the forum but was unable to find anything similar.
Thanks!
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While this is not exactly what you are asking for, this may help somewhat:
https://www.hfflp.com/blog/2019/january/parking-garages.html
I think everyone in RE has been using this forever.
In New York, I only had to rent a garage. That was a couple of years ago, and the cost ranged from $220 to $300 a month. And after that, I could find a house in another state that I could afford. But the garage in that house was in terrible condition. I had to fix it up. The garage door was especially hard to fix. I called in the professionals from advantagegd.com to do it. They decided to replace the gate with a new one with an automatic auto-driven system. They did the work quickly, in about 2 days. And they gave me a discount as a new customer, which I was very happy about. In general, I was pleased with their work.
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