Astonishingly Expensive Boston Parking Spot is on the Market for $375,000.
A single parking place in a Boston garage is making news due to its astronomical cost. This parking space, on the other hand, is far from unique: in Boston and other big metropolitan regions, the cost of owning a parking place often approaches tens of thousands of dollars.
Campion & Company has advertised the parking space at 201 W. Brookline Street in Boston’s South End area for $375,000. The parking area is linked to a premium condo building built in a converted church and is heated. According to the Boston Herald, an apartment in the building just sold for $6.3 million, making the parking spot appear to be a steal.
However, not everyone in the region is compelled to pay such hefty parking costs. Residents of the South End can obtain a street parking permit with proof of residency and a vehicle registration. Using that strategy, on the other hand, encourages drivers to look for parking spaces and exposes their vehicles to inclement weather.
Finding parking in Boston, as in many major cities, may be difficult: in 2020, the city was classified as having the fourth worst traffic congestion in the country. This was an improvement over the previous two years, when Boston had taken first place both times. Needless to say, the Brookline Street parking place is only one of many highly sought-after — and pricey — parking spaces.
Parking spaces in Boston, for example, were reported to cost between $30,000 and $350,000 in 2018.
Boston Magazine published a roundup of parking spots for sale this summer, the cheapest of which was $50,000.
Meanwhile, a quick check on a luxury real estate website indicates that dozens of Boston parking spaces are now available, with minimum pricing in the tens of thousands of dollars. Many, on the other hand, exceed $100,000.
Boston isn’t the only city dealing with this problem. According to Business Insider, parking spaces in some New York City apartment buildings were selling for $1 million each in 2015.
On the other hand, the West Coast has seen its fair share of high-priced parking spaces. A single San Francisco site was also listed for $100,000 in 2020, according to Business Insider. Another place in the had opened up a few months before. This is a condensed version of the information.