New apartment, lease, and garage (leasing, insurance, house)

[MoeMunies]

Been out of NYC for a while, and need to know what the norm is. I've had a car since a teenager, so I'm used to it, plus I will need to keep it. This is forcing me to either find a building with a garage, or rent a garage on a monthly basis.

Buildings with garages are leasing for hundreds more than those without. I'm unsure if it's the garage itself or because these buildings usually have more amenities. My question is, is it typical for the parking to be included in the lease, or is there a fee to rent a space?

[mc33433]

Originally Posted by MoeMunies

Been out of NYC for a while, and need to know what the norm is. I've had a car since a teenager, so I'm used to it, plus I will need to keep it. This is forcing me to either find a building with a garage, or rent a garage on a monthly basis.

Buildings with garages are leasing for hundreds more than those without. I'm unsure if it's the garage itself or because these buildings usually have more amenities. My question is, is it typical for the parking to be included in the lease, or is there a fee to rent a space?

It's usually NOT included. Unless you rent a private house somewhere in the outer boroughs that happens to have a driveway.

Where are you planning to live in NYC? You should really consider if you need the car. Most people comfortably rely on public transportion without the extra worry/hassle of a car. Think of the money you'll save on monthly payments/insurance - put that towards an apartment close to convenient transportation.

You can always rent/zip a car if you feel like you need one to get out of the city sometimes. It would likely be cheaper - again depending on where you are deciding to live. Again, exactly where in NYC makes a difference.

[MoeMunies]

Originally Posted by mc33433

It's usually NOT included. Unless you rent a private house somewhere in the outer boroughs that happens to have a driveway.

Where are you planning to live in NYC? You should really consider if you need the car. Most people comfortably rely on public transportion without the extra worry/hassle of a car. Think of the money you'll save on monthly payments/insurance - put that towards an apartment close to convenient transportation.

You can always rent/zip a car if you feel like you need one to get out of the city sometimes. It would likely be cheaper - again depending on where you are deciding to live. Again, exactly where in NYC makes a difference.

I'm looking in Manhattan. I will need the car for personal and business reasons. I will constantly be leaving NYC. My car is also new and paid off, so payments isn't the issue. My insurance is dirt cheap too. Thanks for clarifying that for me. Now I know to avoid those buildings with garages.

[mc33433]

Originally Posted by MoeMunies

I'm looking in Manhattan. I will need the car for personal and business reasons. I will constantly be leaving NYC. My car is also new and paid off, so payments isn't the issue. My insurance is dirt cheap too. Thanks for clarifying that for me. Now I know to avoid those buildings with garages.

You don't have to avoid buildings with garages. Just ask upfront the fees. Perhaps you will find a deal. Personally, I would not have a car in Manhattan. We do Zipcar and it's very convenient. But if you definitely think you need one, then it doesn't hurt to ask the buildings - good luck!

[Kefir King]

My insurance is dirt cheap too.

Know well that your insurance will not REMAIN cheap.

Here's Crain's take on the median monthly parking cost in Midtown and Downtown Manhattan:

Midtown and downtown Manhattan are home to the nation's most expensive monthly parking spots in 2011, according to an annual report by Colliers International.
The survey, which analyzes parking rates in central business districts over the month of June, found that the median monthly rate to park your car in midtown or downtown would cost $541 or $533, respectively.

Read more: http://www.crainsnewyork.com/article...#ixzz1lu9rSjkN

[likeminas]

Paying for monthly parking in Manhattan will set you back anywhere from 300 to 600

[yee8p]

why is your insurance dirt cheap? Are you sure that will remain to be the case when you change your address to NYC?

[bmwguydc]

Newer buildings are more likely to have garages, and many of the newer buildings with garages were built to more of a luxury standard with full amenities, hence the higher price for the base rent, plus a likely higher rate for the convenience of an in-building garage. Even in a newer, full-service building with parking, you can sometimes find better parking deals in the immediate vicinity, but you will pay more for the comparable size of an apartment than you would in a limited service building.