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Parking FAQ

Question: Will The Carlyle have a door man?
Answer: Yes. A door man will be present and will assist residents with loading and unloading their automobiles.

Question: Will The Carlyle have a drop off point on 4th Avenue?
Answer: Yes. The drop off point will be located directly in front of the 4th Avenue entrance.

Question: Will The Carlyle have a valet service?
Answer: Yes

Question: How does a parking license work?
Answer: A parking license is a prepaid right to use a parking space in a particular garage, for a particular period of time. The cost of the parking license will be appraised as part of your condominium and will be rolled into your mortgage.

Question: Is a parking license transferable?
Answer: Yes. The parking license is transferable to whomever you sell your condominium.

Question: When is the payment for the parking license due?
Answer: The payment is due at Closing.

Question: Do I have "In and Out" privileges with my parking license?
Answer: Yes.

Question: What does "tax deductible" parking mean?
Answer: Since the cost of the parking license is rolled into your mortgage, and is considered a part of your condominium, your entire mortgage payment, including the parking license portion, is tax deductible. For example, if a 5-year parking license is purchased for $10,000.00 and you are in a 35% tax bracket, your after tax cost of parking is $108.33 per month.

Question: How does a parking license affect my condo fees?
Answer: By avoiding the construction of a garage, The Carlyle also avoids the cost of maintaining the garage. This brings down the condo fees and keeps them down. It also drives the value of your condo upward.

Question: How does a parking license affect the cost of my condominium?
Answer: Just as above, eliminating the need to build a garage dramatically decreases the overall cost of the condominium by between $50-100 per sq. ft. ($75,000 - $150,000 on a 1500 sq. ft. condominium. This decrease in cost creates an unparalleled investment advantage.

Question: How does Gateway condominium handle parking?
Answer: Each resident pays a monthly parking fee.

Question: How does 151 handle their parking?
Answer: One parking space is included with every unit.

Question: Is a parking license unique to the city of Pittsburgh?
Answer: No. Parking licenses are found in most large metropolitan areas such as New York and Boston.

Coldwell Banker Real Estate believes all material, editorial and otherwise, to be correct, but assumes no legal responsibility for the accuracy of its presentation. This information may be modified or changed without notice.
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