Ben Karp

| Real Estate Investor, Mostly Parking & Logistics | Sharing Insights About The Parking Business

[Ben Karp @BostonBen5]

@PatCarino When you’re generating that level of parking revenue, there’s not much interest to sell

[Ben Karp @BostonBen5]

@ThinkAppraiser @collin_ruth89 The deals worth considering are traded exclusively off-market imho

[Ben Karp @BostonBen5]

@collin_ruth89 Can confirm this is true.

[Ben Karp @BostonBen5]

@bridgelenderguy Own several of these. Key to these is security + access + location. Happy to give my 2 cents.

[Ben Karp @BostonBen5]

@collin_ruth89 It’s more complex than ‘doing nothing,’ but it’s true that the potential ROI can be quite lucrative.

[Ben Karp @BostonBen5]

@_PE_Charles @IamScottlarson Agreed. 06-09’ was gen opportunity. Quietly some unbelievable deals done

[Ben Karp @BostonBen5]

@Stealx Agree + continuation excessive taxes on biz owners

[Ben Karp @BostonBen5]

@sweatystartup Best kept secret in the parking business but a great marketing tool for tech co's

[Ben Karp @BostonBen5]

@rafaquinn It's essentially a bunch of a slabs of concrete. No tenant improvements, leasing commissions, etc

[Ben Karp @BostonBen5]

@bigp34ch A parking garage ? It's valued similarly to traditional real estate assets based on revenue minus operating expenses.

[Ben Karp @BostonBen5]

Chess not checkers ?

Interesting move.. city owns adjacent garage. Losing hotel parkers to private garage next door. No options for hotel now.

https://t.co/IVsvSavlyL

[Ben Karp @BostonBen5]

@TripleNetInvest Even if the market had demand for space , this building uniquely challenged with only 30 on-site parking stalls. It's a recipe for disaster

[Ben Karp @BostonBen5]

@JohnJBlatchford Should be a boon for the neighborhood & hopefully a boon for the parking.

[Ben Karp @BostonBen5]

@Michael_Asarch Consider parking ?

[Ben Karp @BostonBen5]

Car ownership is dichotomy :

Same person will spend $75k on car but circles the street for hours to avoid paying $20 for parking.

[Ben Karp @BostonBen5]

Will be in Denver next week looking at a few opportunities .

Have some spare time while I’m there. Who should I meet ?

[Ben Karp @BostonBen5]

@barrettjoneill Something like this in an urban CBD

[Ben Karp @BostonBen5]

I've yet to see a standalone parking garage built that makes any economic sense.

That's why acquiring below replacement cost might sound good, but in the parking world, it's just a vanity metric.