A PARKING space in Boston has gone on the market for a bonkers $750,000 – with the seller forced to explain the reasoning behind its “exclusive” pricing.
The hot piece of real estate, located in the Brimmer Street Garage in Boston’s affluent Beacon Hill, is just a stone’s throw away from some 50 home properties currently listed at over $1 million apiece.
Sized at 9′-by-18′, the space is roughly priced the same as a median home in the city.
But listing agent Rene Rodriguez of Cabot & Company believes the price is justified – with the windfall paying for more than just a square of concrete.
Speaking to NBC Boston, he said: “It’s an exclusive valet parking space, the garage is staffed, there are six or seven attendants here at all times.
“In addition to parking your car for you, they also offer concierge services.”
That service includes guest parking, gas fuel-up, car washing, and more – but all at an extra cost on top of the monthly maintenance fee.
Rodriguez added: “If you own a $15 million home that has no parking, it adds a lot of value, and the value is not going to come down, they’re not building more parking on the Hill, so I think it’s a pretty good investment for the people who live here.”
The Brimmer Street Garage’s website describes their services as offering “the most exclusive opportunity to secure a parking space in the historic Boston neighborhood.”
But many locals and visitors were left aghast at the exorbitantly priced space.
“We were on a tour, and somebody told us that there was a parking spot going up for sale for $750,000, and I was like, ‘A parking spot?'” said Kentucky resident Chris Slaughter.
“Absolutely ludicrous,” said Spencer Webb of London. “I mean, get the train!”
Haverhill resident Debbie Martel added: “If you’re like an average working person, you can’t even touch anything, and you definitely couldn’t touch even trying to live in that garage space.”
Parking spots at the Brimmer Street Garage first went up for sale in the 1970s, priced at around $7,500.
But that price jumped to about $300,000 in 2013, and a decade later, a few spaces sold for $500,000.
Cambridge resident Molly Lomenzo said: “There is such a gap in the Boston area between the haves and the haves-nots, and this just increases that gap.”
Michelle Lynch of Florida said: “$750,000 would buy you a nice home with a three-to-five car garage in Tallahassee.
“We were on Newbury Street, and some of the stores, I couldn’t even pronounce.
“So I said, ‘I probably can’t afford anything in there anyway.'”
The eventual buyer of the space will certainly find themselves in a prime location, with the Boston Public Garden situated just a block away, the esplanade and the Charles River a mere seven-minute walk away.
What’s more, the State house is just a half mile away.
After a week on the market, Rodriguez said there are buyers who have shown interest.
Are you covered by law to park on a public street?
Parking on a public street is generally legal, even in front of someone's house, experts say.
Unless the home is in an HOA subdivision, an apartment complex with assigned spaces, or there are posted laws against parking during certain days or hours, it is not illegal to park a vehicle in front of someone’s home on a public street.
“Generally speaking, an individual citizen does not ‘own’ or have any ongoing exclusive right to use a parking space on a public street,” wrote Nolo Legal.
“These spaces are open to the public on a first-come, first-serve basis.”
Most states do have rules against vehicles being parked in the same spot for 72 hours, or blocking fire hydrants, driveways, and sidewalks, as a parked vehicle in those spaces presents a safety hazard.
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