Im sure he will be able to sell it for 600k by the end of 2010 due to the ECONOMIC turnaround. Parking space in Boston sells for $300,000 AP BOSTON ââ¬â A real estate agent says a resident of Boston's upscale Back Bay section plunked down $300,000 to own what is believed to be the priciest parking space in the city's history. Coldwell Banker Residential Brokerage agent Debra Sordillo told The Boston Globe that several residents of a building on Commonwealth Ave. bid for the coveted space, driving up what had been the original asking price of $250,000. Sordillo said prime parking spaces are very difficult to come by in the neighborhood near the Public Garden. The winning bidder was not identified. The Globe reported that the seller of the parking the space is also trying to sell a two-bedroom suite in the building for $2.5 million.
There's the answer. He or she desperately needed to add some practical value to their overpriced condo to move it in this market. Just redoing the bath and kitchen won't suffice anymore, apparently. Helipads are next. p.s. - Parking is an absolute nightmare in Boston, and yes, prime parking spots are gold, obviously for people who have means (there's still some left).
Me and my buddies have a plan to park in his spot every day. Let our cars get towed, pay the 100 dollar impound fee every day for 3 months. By then he will be so sick of people parking in his spot, he will sell it to us for 20k and we will resell it for 300k