Apr
14

Would You Pay $98,000 for a Parking Space?

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It’s rectangular in shape and can carry a six-figure price tag common for some luxury vehicles.

But there’s no engine, and the only tires are those that roll across it.

A reserved parking space is a strengthening part of the real estate market in downtown Charleston, providing pricey relief for motorists who might otherwise circle city blocks for on-street parking in some densely populated areas.

On-street parking spaces often are at a premium on the city’s narrow streets, which are flanked by historic buildings and homes that were built long before the first automobiles rolled off assembly lines. Some recent sale listings for a single parking space in private parking lots in downtown Charleston have neared $100,000.

Prices vary greatly depending on factors such as proximity to the business district and well-heeled residential enclaves including the French Quarter.

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    Categories : Charleston

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