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Such a steal: $300,000 for space in a new Back Bay building
By adamg on Fri, 04/28/2017 - 3:57pm
A parking space, that is. But the garage is heated and the driveway is positively radiant.
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Comments
Hey, big enough to pitch a
Hey, big enough to pitch a wall tent on!
Payments!
With just $60,000 down, you could have it for 360 easy monthly payments of $1,407. Plus condo fees.
That is outrageous! We need
That is outrageous! We need 40B Affordable parking.
Wow
I thought nobody drives cars anymore.
Rare, FULL garage parking
Are there "partial" garages? I don't get it.
Sort of
The hot new thing in parking is "tandem" parking - basically, a space built for two cars, one parked behind the other.
Space
Ideal for the Revolution fan who could drive to Foxboro and come back to Boston and not have to look for a spot.
Do the math.
Developers are morons. If you can get $300,000 for a 10'x20' piece of property which cost next to nothing to build, why wouldn't more of these be created and sold off. It's obvious people that love their cars and forgo Uber would spend for this type of development.
Do the geography
Where?
How much?
Might want to look up how much it costs to build.
Hint: it's not nothing.
plus
There's more to parking that the spot. There's also access to the spot, the aisles and driveways and such. That can be (very often is) as much real estate as the spot itself.
Seems like a steal
These spots are selling for $350,000 a piece, come with a $250 a month condo fee and I don't see anything about heating, although you do just wait for the valet.
http://www.robertpaul.com/real-estate/144-charles-street-2-7-boston-ma-0...
And at Brimmer St you have the cars stacked on top of each other with lift so you have to wait for a valet there also.