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Recent real estate listings tell the whole story: parking spots listed for a cool $1 million. Granted, those are for high-end condo complexes, but the average parking spot is $325,000 to purchase. That’s like paying 10 to 15 times more for your parking stall than for your car.
Fortunately, Luxe — an on-demand valet parking and car service app — has taken New York by storm to solve the parking dilemma. The company has transformed a New Yorker’s usual experience of finding parking from frustrating, costly and time-consuming, to simple, convenient, and affordable.
Here’s how it works: once users request service through the app, Luxe dispatches a valet to meet the driver at their destination, then parks the car in one of Luxe’s secure parking garages. The service eliminates circling the block or trying to find an open spot in a parking garage, a process that takes the majority of New Yorkers more than 10 minutes each time.
Parking isn’t the only time-consuming factor of car ownership. Clients can save even more time by requesting gas fill-ups, car washes, or oil changes when they park their car with Luxe.
The time savings in a week translate into hours — not minutes — for New York City residents. They can use the time saved to finally get a workout in at the local SoulCycle, take a trip with the family to the New York Botanical Gardens, or grab a hotdog and crackerjacks at a couple Yankees games.
High Cost of Parking
Most New Yorkers don’t own a parking spot but rather pay monthly, weekly, or daily. On average, parking costs are $50 per day in New York City or $250 weekly. And those who park their cars in a less-than-legal way can expect a parking ticket of $116 on average.
The price comparisons are astounding. A round-trip flight from JFK International Airport to Paris costs less than a month of parking. The cost of one parking ticket is the same as dinner and drinks at Del Posto.
First launched in San Francisco in 2014, Luxe has become the go-to parking solution for many urbanites. Luxe quickly expanded into New York, Los Angeles, Seattle, Chicago and Austin. Customers have the option to use Luxe’s valet parking services on an hourly, daily, or monthly basis.
In addition to convenience, Luxe offers substantial value over New York’s traditional parking solutions. While residential parking can run around $1,000 per month, Luxe’s monthly residential parking subscriptions start at just $399. There’s no more circling the block for 10 minutes to find an available place to park, or trying to comprehend confusing street parking signs.
For New Yorkers who feel the pain of parking, Luxe is the key to hassle-free city car ownership. For a limited time, new monthly Luxe customers who download the Luxe app receive $100 off their first month.
Pooja Dhargalkar is the General Manager at Luxe in New York and is responsible for running the business’s day-to-day operations, sales and strategy. After earning her MBA from Wharton, she spent two years at the Boston Consulting Group (BCG) focused on digital strategy, brand strategy, organizational design and e-commerce projects for companies across the United States and Europe. Prior to BCG, Pooja worked at Citi’s Latin America capital markets desk. Pooja graduated from NYU’s Stern School of Business with honors.