Bike Storage is the New Hot Commodity

With bike riding and commuting soaring in NYC, the question of where to store bikes - at home, is becoming more important. Bike storage is now a hot amenity in many Brooklyn and Manhattan apartments - so much that monthly fees may apply.
September 13, 2010, 12pm PDT | Irvin Dawid
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Last year "the city passed a law last year requiring new residential buildings with more than 10 units to have one bike space per two apartments", but that still leaves unmet demand by many prospective tenants, to say nothing of the existing shortfall which is being met in some cases by retrofitting storage spaces.

"Suddenly, bike storage has become a make-or-break amenity for apartment buyers and renters alike. Scores of buildings across bike-friendly Brooklyn and even congested Manhattan are responding to the burgeoning demand, adding more parking space for two-wheelers.

To keep some control over the newly popular perk, some developers have even begun charging fees as high as $10 per bike a month." However, the fees can also deter residents from filling scarce capacity with unused or extra bicycles.

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Published on Sunday, September 12, 2010 in Crain's N.Y. Business.com
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