Austin Texas is becoming a bigger more exciting metroplex as the days go by. It seems like there’s a new high rise under construction at every street corner. Its amazing. As a native New Yorker, Downtown Austin’s current growth makes us wonder if this is what people saw during the early 1900’s in New York City. Giant buildings popping up everywhere.
I’m pretty certain that in the early stages of the 1900’s New York City boom, there were very few, if any at all, car collectors wondering where in the world they’d garage their car collection. However, it’s a good bet to say that now, it’s a concern for sure.
This holds true for Austin now too. Parking on the street isn’t a feasible option, there are very few houses available with a suitable garage space in Downtown proper and many high rises include one, maybe two parking spaces. So, where to park the collection?
Just because high rise condos usually convey one, two, or three spaces, this isn’t the be all end all for your options. Not every condominium deeds every space with a specific unit. The Austonian for example, allows independent sales of parking spaces to residents, allowing an owner of one unit to acquire as many spaces as they’re able to negotiate. This makes for an interesting situation, as the owner of these multi-million dollar units are often the same folks that own multiple, way above average MSRP’d automobiles.
The Austonian’s not alone in this ownership characteristic. Too have a neat experience, go cruise up and down the many garage levels of different Downtown buildings. Rolls Royce’s, Lamborghini’s , Ferarri’s, and the like, all live here. Quite often I’ll drive to an appointment, park in a client’s space, on my way, driving by a row of four cars that easily total over a million bucks. I’m working on a deal now in which the buyer, who already lives in a Downtown high-rise condo with three spots, is upgrading to a larger unit on a higher floor. Only two spots will convey to the buyer of his place, so when he buys this next Condo, that also includes three spaces, he’ll end up with four spaces. Winner, winner, chicken dinner!
So, if you have three, four maybe five or more cars, don’t rule out a Downtown Condo. It may take some time to acquire the spots, but if that’s your dream, get on after it!
Leave A Comment