Would you pay $280,000 for a convenient parking space?

hatrickpatrick

http://www.independent.ie/world-news/americas/woman-pays-out-560000-for-two-parking-places-29346711.html

A Boston woman has paid $560,000 (€420,000) for two parking places near her home.

Lisa Blumenthal bought the two off-street parking spots in the city's Back Bay neighbourhood in an auction.

The auction was held by the Internal Revenue Service, which had seized the spots from a man who owed back taxes.

Ms Blumenthal, who lives in a multimillion-dollar home near the parking spaces, admitted she didn't expect the bidding to go quite so high, but said the spots would come in handy for guests and workers.

Parking is a precious commodity in Boston and the record for a single spot in the city is $300,000.

In comparison, the average price of a family home in Massachusetts is $313,000.

Started off thinking this was batsh!t insane, but then was thinking that if there was very little open street parking like there is here, and you're going to be living there for 30-40 years, maybe it's not so bad. Plus how much would you pay in parking discs and so on if you didn't own the spaces?

B.A._Baracus

That's just insane.

Fr_Dougal

Well one could hardly expect staff to pay for their own spots.

PizzamanIRL

If I could afford to, I don't see why not.

rolliepoley

the average price of a family home in Massachusetts is $313,000.

Why did'nt she buy a nighbours house and flatten it.

PizzamanIRL

PizzamanIRL wrote: »

If I could afford to, I don't see why not.

Why is my post trying to run off the page?

Allyall

She would have been better off employing a driver to bring the car to her and from her as she goes to work. Or just to sit in the car all day and move it slightly when a traffic warden gets near.

FearDark

Thats bat**** crazy whatever way you look at it. Money for old rope goes to the Revenue.

rolliepoley

PizzamanIRL wrote: »

Why is my post trying to run off the page?

The thoughts of paying all that money has scared it off.

The Backwards Man

Fools and their money are easy parted, be cheaper to buy the house next door and demolish it.

SeanW

Iwannahurl must be having a hard on reading about this ... "Yay, sky high costs for a motorist. Yipee"

humbert

A more representative question would be, would you pay a similar percentage of your net worth for a parking space?

Alter-Ego

Didn't that woman who works for the Irish Independent, who paid silly money for a city centre apartment, right before the housing bubble burst, also pay sillier money for a parking spot?

There's been a thread or two about her on AH.

hatrickpatrick

humbert wrote: »

A more representative question would be, would you pay a similar percentage of your net worth for a parking space?

Is it though? If I was a multi millionaire I'm still not sure I'd be willing to part with several hundred grand just for a parking space, on the principle alone if nothing else

Hownowcow

The things rich folk do.

TimeToShine

She lives in a multi-million dollar house so I doubt her two neighbours are living in little dumps she can buy and flatten.

copacetic

rolliepoley wrote: »

the average price of a family home in Massachusetts is $313,000.

Why did'nt she buy a nighbours house and flatten it.

That's a big state, the average price of a house in Back Bay, Boston is probably more like $3million to $4million, so the spaces are relatively reasonable value in comparison. Assuming you have that kind of money.

They woulda have had to go 10 miles to get a home for $313,000 to demolish.

rolliepoley

copacetic wrote: »

That's a big state, the average price of a house in Back Bay, Boston is probably more like $3million to $4million, so the spaces are relatively reasonable value in comparison. Assuming you have that kind of money.

They woulda have had to go 10 miles to get a home for $313,000 to demolish.

It was Somerville, MA she could of bought one around the block.

http://www.trulia.com/real_estate/Somerville-Massachusetts/

copacetic

rolliepoley wrote: »

It was Somerville, MA she could of bought one around the block.

http://www.trulia.com/real_estate/Somerville-Massachusetts/

No, it was at rear of commenwealth ave in the centre of back bay boston, where a 4 bed apt in a converted house is $3 million on its own and the spaces cost 50k 20 years ago.

It was an auction people, plenty of smart rich people were willing to pay a lot for the spaces..

rolliepoley

Same street.
http://www.trulia.com/property/3075417438-280-Commonwealth-Ave-G8-Boston-MA-02116

IM0

you are all missing the main point here. they are for guests and servants. I mean how very dare she :mad:

Grayson

Alter-Ego wrote: »

Didn't that woman who works for the Irish Independent, who paid silly money for a city centre apartment, right before the housing bubble burst, also pay sillier money for a parking spot?

There's been a thread or two about her on AH.

I was going to reply with "only if my name is Alison O'Riordan"

copacetic

rolliepoley wrote: »

Same street.
http://www.trulia.com/property/3075417438-280-Commonwealth-Ave-G8-Boston-MA-02116

Heh, that's a 1 bed , one bath apt in a block of 10 for $300k. Be pretty hard to turn it in knock it down and turn it in to a parking space?

JD DABA

Just stick one of those little motorized skateboard thingies in the back of the car.
Park 1 km away and save hundreds of grand.

humbert

hatrickpatrick wrote: »

Is it though? If I was a multi millionaire I'm still not sure I'd be willing to part with several hundred grand just for a parking space, on the principle alone if nothing else

It's simply a quality of life thing. Would spending that money in some other way improve your quality of life more?

JD DABA

In any case its an investment. She can use it and then sell it on.

Tar.Aldarion

It's nothing special, spots have always gone for this amount. It's relative, the money is nothing to her so it's not too big a price for her.

Last year one sold for a million in new york.

CarlDunne1979

A convenient parking space for my "man-vehicle"? Only if that happens to be Georgia Salpa's poop-giver. Otherwise I'll park it in a ditch/fat bitch or simply walk/****.

Ponster

Tar.Aldarion wrote: »

Last year one sold for a million in new york.

Link

From what I can remember it was sold as soon as it went on the market.

rolliepoley

copacetic wrote: »

Heh, that's a 1 bed , one bath apt in a block of 10 for $300k. Be pretty hard to turn it in knock it down and turn it in to a parking space?

Yeah i know but she could be buying a condo with that price and one that had parking instead of buying empty spaces after all their just for guests and workmen. Total rich splendor.