Historic Boston Neighborhood Parking Space Is Listed for $650,000
The parking space has a monthly fee of $250 and annual property taxes of $2,785.
— -- Living in a tony, historic neighborhood of Boston requires some deep pockets, and if you also want to park your car there, you'll have to shell out some serious change.
A parking spot in the Brimmer Street Garage, located in the city's historic Beacon Hill neighborhood, had been listed for $650,000 by real estate agent Aaron Cohen before the listing was taken down Tuesday, Boston real estate agent and publisher of The Bates Real Estate Report David Bates told ABC News today.
In Cohen's listing, he also disclosed he is the owner of space #236 but the status of the listing is now "temporarily withdrawn," Bates said.
"It's difficult to get properties with parking in Boston's historic Beacon Hill," Bates added, which is what makes this spot so appealing. "Secured parking is a nice amenity, but it also adds complementary value to the property."
Parking is so scarce in this area that Bates said last year neither a home listed at $5.195 million nor a home that sold for $7.9 million had parking.
"While Boston parking has a definite, significant value, it's highly unusual to see it priced this high," Bates said. "Parking in the city, depending on the neighborhood and the development, could go anywhere from $25,000 to maybe $125,000."
In this particular garage, which houses approximately 110 parking spots, spaces usually sell between $250,000 and $390,000, Bates said, adding that the last sale for a space closed on Oct. 9 for $390,000.
According to MLS PIN, the Boston property listing service, out of 280 Boston condos that sold in the last 30 days, only 103 sold for more than $650,000. That's condos, not parking spots.
"The Brimmer Street Garage is pretty much world famous for being one of the first parking space condominiums in 1979," Bates said, and because it was converted into a condominium, the spot comes with a common area monthly fee of $250 and it has property taxes of $2,785 based on its $230,000 value assessed by the city.
Aaron Cohen could not immediately be reached for comment by ABC News.
