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The $650,000 parking space
By adamg on Tue, 11/03/2015 - 2:27pm
That's what somebody's asking for a space in the Brimmer Street garage, the Bates Real Estate Report reports, adding that makes it more expensive on a square-foot basis than that $37-million penthouse at the Millennium Tower. Don't worry, though: It's heated.
Via Boston Magazine.
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Comments
What a bargain!
What a bargain!
DOUBLE the price of 3 years ago
Three years ago a space in the garage was offered for $300K, including master insurance, car elevators, exterior maintenance and, of course, valet parking
http://boston.curbed.com/archives/2012/11/the-300k-beacon-hill-parking-s...
Brimmer Street, you need deep
Brimmer Street, you need deep pockets to live on that street.
And it
doesn't even come with a shrine. Guess I'll have to buy that $70K space in South Boston.
Rumored that Thurston Howell
Rumored that Thurston Howell the 3rd will be buying the $650k parking space, he's hoping that the seller will throw in a years worth of Grey poupon!
If I buy a $150,000 Tesla
The least I can do is pay more than 4x for its parking space. It does come with a recharging port, right?
Parking space for $650k! You
Parking space for $650k! You can't even purchase a condo in Boston for $650k, but you can purchase two condo's in Eastie for $650k.
Really? Last I checked East
Really? Last I checked East Boston was in Boston.
Sorry, In town Boston
Sorry, In town Boston
perhaps
Perhaps you mean, accessible by T Boston.
Maybe?
Yep
East Boston only has five T stops. They definitely meant "accessible by T Boston".
Whatever you want...
I'm sure you could get one installed.
Actually, that's in line with the neighborhood history. A bunch of the houses on Byron St. and Beaver Pl. were built as carriage houses and stables for the early residents of the Back Bay.
That's silly. If you buy $15
That's silly. If you buy $15,000 Smart cars, then you have two parking spaces, and can putter away with a $620,000 profit.
Precious
Now that is truly precious.
Don't forget
Only $650+/month in property tax! Hopefully there's a HOA (PSOA?) fee too.
Expenses are real
Yeah, once you buy a condo parking space, bear in mind that the garage still needs to cover its operating expenses: staff, heat, electricity, water, maintenance on the building and on its equipment (elevators, etc), insurance, etc.
Figure what you would pay in monthly rent to a similar privately owned garage. Subtract the owner's profit -- that's what you should expect to pay in monthly fees to a condo garage.
Yup, $250/month condo fee
Taxes are $2785/year
Right now all the parking
Right now all the parking spaces are assessed for $230k with a $1400 annual tax bill. The city's triennial revaluation is underway, and all those tax bills are about to get a lot higher.
It hasn't sold yet.
My 3 bedroom, 1 bath house is for sale for $2 million.
Fingers Crossed.
I just submitted my bid.