Boston Woman Pays $560K for 2 Parking Spots
And in SF, one sells for $82K
By Newser Editors and Wire Services
Posted Jun 14, 2013 9:34 AM CDT
A Porsche SUV is parked in space #142 Thursday, June 13, 2013, in a parking lot near AT& T Park in San Francisco. A spot in the city's trendy South Beach neighborhood sold last week for $82,000.   (Ben Margot)

(Newser) – Parking is such a precious commodity in Boston that one woman was willing to pay $560,000 for two off-street spaces near her home. Lisa Blumenthal won the spots in the city's Back Bay neighborhood during an on-site IRS auction yesterday. The IRS had seized the spots from a man who owed back taxes. Blumenthal, who lives in a multimillion-dollar home near the parking spaces, tells the Boston Globe the spots will come in handy for guests and workers. The record for a single spot in Boston is $300,000.

Steep prices abound on the West Coast, too. A spot in San Francisco's trendy South Beach neighborhood sold last week for $82,000. What the unidentified buyer got for that price: an 8- by 12-foot parking space in an enclosed garage in a condominium building near the San Francisco Giants' baseball park. A Porsche SUV was spotted parked in it. The spot was only on the market two weeks, according to the real estate company that sold it; the company says it sold a parking spot in the same building at the height of the last real estate boom for $95,000.

Copyright 2016 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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Showing 3 of 27 comments
Jun 17, 2013 10:01 PM CDT
"Boston Woman Pays $560K for 2 Parking Spots" Wonder how much she pays her helper !?
Jun 14, 2013 10:58 PM CDT
It's the Law of Supply and Demand at work here- same as rare coins (no diff from non-rare) go up in price.
Jun 14, 2013 8:07 PM CDT
When I worked at Enterprise, we had to tell people who rented in NYC on a weekday to be ready to pay $50 to park overnight in a garage even at a nice hotel. Boston is not that far behind with daily rates of $35 or more. In my city, you can pay $80 per month for a spot and people still complain. We have some mid rise condos but you get one space for each unit. As for my home, I get two but sweet talked the landlord into two more.