by Noah Kazis on September 15, 2010, StreetsBlog

Edison ParkFast advertises its bike parking at Hester and Centre Streets. Photo: Noah Kazis
The combination of the Bicycle Access to Garages law and the market’s invisible hand are bringing cheap bike parking to locations across Manhattan and Downtown Brooklyn. As of last month, every garage operated by Edison ParkFast, one of the largest parking companies in the city, is offering bike parking at the rate of $1 per day or $20 per month.
Edison was already offering bike parking at its larger garages, said Executive Vice-President for Parking Ben Feigenbaum, due to the requirements of the Bicycle Access to Garages law, passed last August. That law required all public lots with over 100 spaces to provide parking for bikes, allowing garages to set their own rates. “We attracted virtually no customers,” said Feigenbaum.