A parking garage at 304 West 49th Street near Eighth Avenue has traded hands for $14 million, demonstrating the profitability of running a garage in the nation’s most expensive parking market, the New York Observer reported. Imperial Parking Systems acquired the lot from Harvey Ravner. This purchase comes on the heels of another parking garage purchase at 59-61 West 36th Street, located between Fifth and Sixth avenues, for a total of $28.5 million. According to [more]
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