What recession? Man pays $300,000 for parking spot in Boston

Man in Boston Parking Space - $300,000

Yes, a lot of us are cutting back on spending by eating out less, driving less and hoping to find a cheap parking spot near a meter preferably, where we can pop a couple of quarters in while we go grocery shopping (if you live in the city). However, there are many out there that love convenience and will pay the highest dollar for it – say $300,000.

An unidentified man paid a whopping $300,000 for a parking space in Boston’s upscale Back Bay section – the highest price ever paid for a Boston parking spot.

A Coldwell Banker Residential Brokerage agent Debra Sordillo told The Boston Globe that several residents of a building on Commonwealth Ave. had been bidding for the spot, driving up the original asking price of $250,000.

“It”s all a question of supply and demand,” said Sordillo, who sold the space. “Whether it”s a good market or a down market, you”re always going to get a good price for that space.”

That’s because walking takes too much effort these days.

– By: Omar Rana

Source: Boston Herald
Photo Credit: Stuart Cahill, Boston Herald