A parking spot in Boston for sale: $650,000

I’m in JP and bought a condo here about 5 years ago for a fraction of this price, and I can take the E train or the Orange Line (when they’re running, we’re coming up on Winter again), I don’t need a $650k parking spot.

Then again with street parking I admit there are days I would be more likely to consider it.

Ehh, 1000 sq ft in JP goes for $350-400k. Expensive, sure, but not $600-800 and definitely city-accessible.

Well, 20 miles outside Boston, sure, but you’re out in Marlborough at that point… You’re out in the sticks! :wink:

(I realize that 20 miles is considered a short distance by many people, but by “Boston suburb” I was thinking Newton, Waltham, Medford, Arlington. Then again, I only bike, so what do I know about distances and suburbs…?)

Ok, ok, ok, so they’re not all that expensive, I exaggerated. (Though even in cheap-o Watertown you can still find things like this 1700 sq-foot condo for $769K. And every property > 1500 sq feet in Watertown is being sold for over 450k, except for one being foreclosed on.)

I am always surprised when visiting my family in CT that you can get somewhere 20-30 miles away in half an hour. It takes me half an hour to get to Somerville, 3 miles away.

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When the garage opened in 1979, spots sold for $7,900. Last month, a spot sold for $390,000. It's a better investment than bitcoin!

$7,900 then is about $26,000 today. That’s about a 7.8% annual inflation-adjusted return on investment over those 36 years.

Not a bad investment, but only in retrospect, since we know the garage didn’t get torn down and the neighborhood didn’t get any less swanky over all that time. If there’s such a thing as parking space insurance (and at those prices, there’d better be) then that’ll pare that ROI back a bit.

As a Londoner: pfffffffff. Only $650k?

But theya’s no pahking theyah!

(this is always how I illustrate my Boston non-accent and native cred. I’ll have to figure out something new now.)

I usually make reference to the “wicked big haiya from Reveyah” or some such.

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I think “it’s a fokken baby wheel, bro” might be the new standard.

At Yale they teach us to park in the driveway, not in the yard.

Maybe your yard doesn’t have any milkshake.

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