Big Bucks For Boston Parking Spaces
Of the many, many wonderful things that Boston has to offer, parking spaces are not one of them. That could be why two neighbors engaged in an all-out bidding war for two precious spaces located in the Back Bay area of Commonwealth Avenue.
Parking is so rare that these neighbors drove the original auction price of the spaces from $42,000 to over a half a million in a mere 15 minutes, according to Boston.com.
Apparently, parking in this area of the city is so sought after that real estate agents, lawyers, and dozens of local residents came out to the auction to place their bids after the prime “real estate” was seized from a man who owed more than $600,000 in back taxes.
The proud owner of the two spaces paid more than double the average median home cost in Massachusetts ($313,000) but in a city that parking is a constant hassle, they have two pretty little black-top spots for their personal use.
How much is parking worth to you?