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