A Boston man will never again have to feed quarters into a parking meter, and all it cost him was $300,000.
The unidentified man paid the king's ransom for the rights to park in Beantown's upscale Back Bay section, setting a citywide record for the priciest parking spot.
The coveted space, in an alley behind a Commonwealth Avenue building, was auctioned off with bidding starting at $250,000. Coldwell Banker real estate agent Debra Sordillo said a space in the district near the Public Garden is hard to come by, making parking spots one sector of the real estate market that is not in the tank.
“Whether it’s a good market or a down market, you’re always going to get a good price for that space,” Sordillio told the Boston Herald .
The winning bidder is believed to live in a brownstone of multimillion-dollar condos somewhere on the block. Real estate listing service LINK said the $300,000 parking space marks a new record in Boston, topping the $250,000 that four Hub spaces have sold for since 2007.