According to the New York Post, an Upper West Side garage, located at 219-223 W. 77th St., is being marketed as a residential tear-down that would allow the 7,700 square foot space to be redeveloped into 77,000 square feet.
The Post speculates that bids for the could rise beyond $800 per square foot, or over $61 million, considering the location at the north side of the street between Broadway and Amsterdam Avenue, and next to the new 20-story Larstrand rental.
Though parking in the city is always a challenge at best, more and more garages are being refurbished into living spaces. The Post reports that Manhattan had 865 garages in the tax year 2012-2013, but 860 in 2013-2014 — a loss of five garages and an untold number of spaces. Brooklyn lost even more, with 40 garages gone. Meanwhile, 30 are gone in the Bronx and three in Staten Island. But the biggest loser by far is Queens with a whopping 44 garages lost.
All of this begs the question — where is everyone putting their cars now?