Price for parking space?

[matichan]

Not sure if anyone if anyone is familiar with the lofts (not the new ilofts, the slightly older ones next to it) at Mystic Pointe (Parklawn & Lakeshore).

I have 2 parking spots, want to sell 1 of them... anyone have an idea on what I can get for it? I'm assuming the market is affecting the prices of parking spots as well.

Thanks a lot!

 

[Josef]

Are you actually permitted to sell one with iLofts? Regarding price, I'd guess
around 4-4500.

 

[cdr108]

How much does rental parking go for there?
My guess would be around $10K for spot.

 

[Observer Walt]

I would guess perhaps $10,000, but check first with the management office to see if you are permitted to sell it and under what conditions. You probably will not be able to sell to anyone other than another owner in the building.

 

[Solaris]

wow ... $10K surely seems low compared to condo parking nowadays selling for $20K - $35K depending on location

 

[cdr108]

wow ... $10K surely seems low compared to condo parking nowadays selling for $20K - $35K depending on location

Precisely for that reason.
It's out in Parklawn & Lakeshore, and IIRC parking was included for all units.

Also, put in perspective, parking was only $12K in 1996 for dt Toronto.

 

[confusion]

Just do an MLS search for that area for parking spaces. See what the average is.

Parking is very location dependent. Down in the core they can get much much higher than 10K.

 

[CanadianDriver]

30k in them Cityplace condos

 

[simuls]

$38 000 at U condos on Bay.

 

[taal]

20-30K around Y & E.

Wow 10K ??

 

[projectcontrol]

Urban Torontonians:

I have a parking spot that I don't need that I wish to sell. I'll throw in a free locker with it as well

It is a premium oversize parking spot (10 ft X 18 Ft) on the 3rd level where you just drive straight in and back straight out. No messing around to get in and out. It is also opposite the elevator and located at the Opus/Pantages Condo Complex - 210 & 220 Victoria St.

In this market, how much should I ask for it so that it sell in 30 days or less?

Your thoughtful response is appreciated.

 

[dpylyp]

Selling a Parking Spot

I would guess perhaps $10,000, but check first with the management office to see if you are permitted to sell it and under what conditions. You probably will not be able to sell to anyone other than another owner in the building.

If the parking spot is deeded as a separate ownership it also pays taxes and has a maintenance fee, as would also a storage unit. (thats actually how you end up with 3 titles.)

You would always have the right to sell you assets. The management maybe concerned or aware of someone buying "spots" without a combined Unit purchase but I don't believe they could restrict sale.

The lender would need to agree to your selling of the parking spot (as you are reducing the value of their security) or possibly direct the proceeds to the outstanding mortgage balance. (If you have no mortgage, nevermind)

In different locations I have seen parking spots posted from 10 to 40K depending on location. Have someone Check the MLS history

 

[Solaris]

Urban Torontonians:

I have a parking spot that I don't need that I wish to sell. I'll throw in a free locker with it as well

It is a premium oversize parking spot (10 ft X 18 Ft) on the 3rd level where you just drive straight in and back straight out. No messing around to get in and out. It is also opposite the elevator and located at the Opus/Pantages Condo Complex - 210 & 220 Victoria St.

In this market, how much should I ask for it so that it sell in 30 days or less?

Your thoughtful response is appreciated.

I gather at Yonge+Dundas/Queen ... a parking space can fetch around $25K? you may want to compare what that parking space sold for orginially from the builder ... and if you are lucky a comparison on MLS is a great reference

good luck

 

[WeirdFishes]

X condo (Charles/Jarvis) is charging $35k per spot.

 

[kennyx]

X condo (Charles/Jarvis) is charging $35k per spot.

I see the price has gone up. It was $30k in spring '08