Friday, June 17, 2016

Yankee Stadium parking garage debacle worsens

Photo from Daily News
From Crains:

The last-place New York Yankees aren’t the only struggling enterprise in the Bronx. Documents show the net loss on the municipal-bond financed parking garages outside Yankee Stadium widened last year to $31.2 million.

Bronx Parking Development Co. issued $237.6 million of municipal bonds in 2007 through New York City’s Industrial Development Agency to build three garages and renovate two others.

The garages and five parking lots, which have about 8,700 public spaces, have suffered as more fans take public transportation to the Major League Baseball games and drivers balk at paying $25 to $35 to park. In June 2015 fewer than 10% of fans attending Yankees games parked in the garages, according to bond filings.


Anonymous said...

$25 to park for a 3 hour event is a Major League Ripoff!

Anonymous said...

I'm there monthly for NYCFC games. It's a no-brainer to take Metro North or Subway. Even suburbanites from Westchester and Connecticut don't drive. The lots and garages are pretty empty. Hard to understand how this big a miscalculation could have been made by so many.

Bobby Bonilla said...

The bonds backing Citi Field were upgraded yesterday to investment grade - Baa3 - by Moody's due to increased attendance.


And in 2 weeks, on July 1, the Mets will be sending me my annual $1.2 million payment!!!!

With Love,
Bobby Bonilla

Anonymous said...

not only is it a ripoff to pay $35 to see them lose, but now they have these sorry excuse "valets" WITHIN the garage that strong arm people into using their services to park on a certain level of the garage. i have first hand witnessed them taking cars for joy rides around the garage during a game.

Anonymous said...

During the USTA games in August at Flushing meadows Corona Park, they allow drivers to park on grassland. Also, limousine drivers waiting for the matches to end keep their auto engines running with the AC on, during the entire matches on humid nights.

Anonymous said...

I thought the idea WAS for people to take public transportation! Yankee greed made it a reality! And STILL people complain.

People better start parking there. DuhBlazio has that money already spent by a factor of 10!


Good for Bobby Bonilla. He gets attacked for his deal, but it was the WILPON's who made that deal. He is getting what he contractually signed for. (silly me, I almost wrote 'earned') It's the Wilpon's who should be chastised for that deal.

Anonymous said...

'limousine drivers waiting for the matches to end keep their auto engines running with the AC on, during the entire matches on humid nights.'

I support this. I hate it when the hired help is all sweaty when they open my door for me! What's a few degrees of global warming?

Anonymous said...

What do you know, absurd prices for driving when there's convenient public transit available will cut down on car use.

I wonder if Transportation Alternatives is somehow behind the absurd parking prices, too.

(sarc) said...

The price is what the market will bear..

I guess they do not teach such things in school anymore.

Simple economics...

Anonymous said...

The amazing part about Bobby Bonilla is that his deal still has ANOTHER 19 YEARS to go! Good for him and how stupid are the Mets? I'm sure at the time that Wilpon thought Bernie Madoff would make back all that money for him in one year.