Parking Space sold for $300,000

June 14, 2009 4:01:02 PM PDT
The recession isn't stopping some people from spending - especially one Boston resident who made news this week for paying an unbelievable price, for a parking space.It is the talk of the Back Bay, this parking space selling for a whopping $300,000 dollars

All jokes aside, hidden behind 48 Commonwealth Avenue, this private open air parking space just became the most expensive parking spot in Boston.

Surpassing the $250,000 garage space that sold last year, and eclipsing the average price of $137,000.

And while most people were shocked at the price, David Steinberg of Hammond Real Estate wasn't surprised at all.

David Steinberg, Hammond Real estate said, "its right outside your door, home"

Ok it's convenient, and it's off street parking in the heart of the Back Bay, but the space sits across from a dumpster with graffiti on it, off of a back alley and from what we could see it didn't appear to have a valet.

But it does have a few other perks, having the deeded spot avoids the pesky orange violation beacons you see quite frequently and the daily parking lot fees which can add up pretty quickly.

According to the broker, the new buyer wishes to remain anonymous, but is reportedly a resident at the posh 48 Commonwealth Avenue.

Leaving some folks to say if you can afford it why not buy it.

And at the end of the day it boils down to a simple formula, its supply and demand.

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