Fobio
06-12-2009, 11:05 AM
http://www.blogcdn.com/www.autoblog.com/media/2009/06/parking-spot.jpg
In some cities, people don't want to pony up loose change for a meter-fed parking spot. In Boston, an abundance of available spaces would be like a dream come true, as evidenced by the exorbitant prices being paid on a regular basis in some areas. For example, The Boston Globe reports that a spot at 48 Commonwealth in the Back Bay district has just gone for a record $300,000 after residents in the area engaged in a bidding war for it. The couple that sold the space is also trying to sell their high-rent district condo for $2.5 million. Before you think that's too much dough to drop on a downtown, keep in mind that the price includes an underground parking spot.
While $300,000 is extreme even for Boston, spots reportedly average $134,000 in the exclusive area, and that number's going up. Last year, a parking space was $127,000 on average. For that kind of money, you could buy two Cadillac CTS-Vs, an Aston Martin V8 Vantage, or an Audi R8, or four Chevrolet Camaro SS models, or, well, you get the point. When a parking spot costs more than 99% of the cars on the market, Armageddon can't be far behind.
[Source: The Boston Globe]Bostonian ponies up record $300,000 for parking space. Average area price? $134k originally appeared on Autoblog on Fri, 12 Jun 2009 09:29:00 EST.
http://www.autoblog.com/2009/06/12/bostonian-ponies-up-record-300-000-for-parking-space-average-a/
In some cities, people don't want to pony up loose change for a meter-fed parking spot. In Boston, an abundance of available spaces would be like a dream come true, as evidenced by the exorbitant prices being paid on a regular basis in some areas. For example, The Boston Globe reports that a spot at 48 Commonwealth in the Back Bay district has just gone for a record $300,000 after residents in the area engaged in a bidding war for it. The couple that sold the space is also trying to sell their high-rent district condo for $2.5 million. Before you think that's too much dough to drop on a downtown, keep in mind that the price includes an underground parking spot.
While $300,000 is extreme even for Boston, spots reportedly average $134,000 in the exclusive area, and that number's going up. Last year, a parking space was $127,000 on average. For that kind of money, you could buy two Cadillac CTS-Vs, an Aston Martin V8 Vantage, or an Audi R8, or four Chevrolet Camaro SS models, or, well, you get the point. When a parking spot costs more than 99% of the cars on the market, Armageddon can't be far behind.
[Source: The Boston Globe]Bostonian ponies up record $300,000 for parking space. Average area price? $134k originally appeared on Autoblog on Fri, 12 Jun 2009 09:29:00 EST.
http://www.autoblog.com/2009/06/12/bostonian-ponies-up-record-300-000-for-parking-space-average-a/