Friday, June 14, 2013

Not a Bubble - "Two Boston Parking Spots Sell for $560,000 at Auction"


"Jaws dropped in 2009 when someone paid $300,000 for a parking space, which was thought to be a record. But now, even that has been shattered. At an auction on Thursday, the bidding for a tandem spot — space for two cars, one behind the other — started out at $42,000. It ended 15 minutes later at $560,000."
Those spots look like about 1/50 of an acre so a price of almost $30 million per acre.

1 comment:

CP said...

If you can get a 30 year mortgage on those spots at 4 percent, that's a payment of $2700 per month or $675 per month per spot. About the same as a car payment.