Quarter Million for a.... Parking Spot?
Parking = Gold. The most expensive real estate transaction regarding a single parking spot in Boston has just been posted at hefty price tag of $250,000. A Back Bay resident recently purchased an uncovered, open-air parking spot off of Commonwealth Ave. surpassing the previous record ($210,000 for a heated garage spot on Brimmer Street Garage in Beacon Hill)Yes, it's true -- parking in Boston, especially Back Bay and Beacon Hill, is a challenge (investors take note!!). But with that kind of money why not hire your own limousine driver?
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Parking spots have become a specialty amoung certain real estate agents. Buyers and sellers around the area can hire agents to help them find or sell a parking spot in a particular location. The average price for parking spot in the Boston area is $92,000. If you are looking for a home with parking in the Boston area, make sure that you negotiate the parking spot with the overall deal. Many times, sellers will try to sell them seperately to get the most profit. Plus, parking spots are rare and should continue to boast good appreciation levels.
Parking Spots as Investments?
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