By Tuan Nguyen
DNAinfo Reporter/Producer
MIDTOWN — It won't surprise anyone who braves Manhattan's roads, but paying to park in the city can mean a trip in the fast lane to poverty.
Midtown and Downtown have the most expensive monthly parking garage rates in the country, according to a report released Thursday.
Research done by real-estate brokerage firm Colliers International in June found that parking a car in a Midtown garage costs an average of $541 per month, including taxes.
Downtown garage spots were only $8 cheaper.
That's $100 more than Boston, the third most expensive place to park in the US.
"It's still cheaper than getting a $160 ticket if you park on the street," said Jonathan Nathan, a Diamond District watchmaker who pays $500 a month for his spot at the Icon Parking on West 47th Street near Seventh Avenue.
Both neighborhoods also topped the list for monthly rates last year, though prices have risen since. In Midtown, they've gone up by 0.6 percent, with a 0.8 percent rise in Downtown.
Midtown also has the highest median daily parking rate in the US, at $41.
"What choice do you have?" asked Mordy Schnitzler, 55, who lives in Queens but comes into Manhattan regularly to visit clients. Schnitzler, an accountant, was parking at an Icon Garage on West 46th Street, near Sixth Avenue.
"I once parked in the Lower East Side and was five minutes late to pick up my car," he said. "They towed it away and it cost me $300 to get it back."
Compared to the daily rates in Midtown, Downtown is a steal, with a spot running $30, the same as in LA. Daily prices in Midtown have crept up 2.5 percent from last year, while Downtown, they are down 3.2 percent.
"This year's parking rate survey reflects a moderately improving economy and better office leasing fundamentals," said Ross Moore, Colliers International's chief economist.
Worldwide, London was found to have the most expensive parking spots, with a $1,084 average tag for a space.
