Beyond the spreadsheet, the value of a private spot is found in the time it saves and the stress it removes from daily life. My New Office: A Parking Space - The New York Times

Buying a parking space in New York City is often more of a high-stakes real estate acquisition than a simple convenience purchase. In a city where square footage is the ultimate currency, a dedicated 8-by-12-foot rectangle of asphalt can command prices ranging from in outer boroughs to over $300,000 in prime Manhattan neighborhoods. For the modern New Yorker, this investment represents a calculated trade-off between immense upfront capital and the priceless "peace of mind" that comes with escaping the ritual of "alternate side" parking. The Financial Landscape of NYC Parking

Purchasing a spot is essentially a real estate transaction, often requiring the same legal oversight as buying an apartment.