Author Topic: Boston Parking Space Sells for $400,000  (Read 3766 times)

131071

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Miss Piggy

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Re: Boston Parking Space Sells for $400,000
« Reply #1 on: August 29, 2016, 07:00:14 AM »
Just...wow.

meghan88

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Re: Boston Parking Space Sells for $400,000
« Reply #2 on: August 29, 2016, 10:04:22 AM »

mskyle

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Re: Boston Parking Space Sells for $400,000
« Reply #3 on: August 29, 2016, 10:14:18 AM »
Especially insane because I'm pretty sure you can rent a parking spot in that neighborhood for $500 a month (I work nearby and you can get parking for $300/month near me), which is ALSO ridiculous but still way more reasonable than buying one at $400K!

And all this for the privilege of driving in Boston traffic... yikes.

LennStar

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Re: Boston Parking Space Sells for $400,000
« Reply #4 on: August 29, 2016, 10:48:18 AM »
Eh, damn, I wished I had 2 or 3 of those parking spaces. FIREd tomorrow.
Thats so f******* unbelievable. A parking space with the price of a house?
As a house owner I would just knock out all possible walls from the ground floor and make that parking space.

mskyle

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Re: Boston Parking Space Sells for $400,000
« Reply #5 on: August 29, 2016, 11:48:14 AM »
Well, you certainly couldn't buy a house for $400k in Beacon Hill... maaaaaybe a studio condo? Something about the size of a parking space?

Making Cookies

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Re: Boston Parking Space Sells for $400,000
« Reply #6 on: August 29, 2016, 11:49:05 AM »
Especially insane because I'm pretty sure you can rent a parking spot in that neighborhood for $500 a month (I work nearby and you can get parking for $300/month near me), which is ALSO ridiculous but still way more reasonable than buying one at $400K!

And all this for the privilege of driving in Boston traffic... yikes.

We were freaking out here in flyover country b/c our annual parking passes went to $200 from $50. I park 20 feet from the building.

Captain FIRE

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Re: Boston Parking Space Sells for $400,000
« Reply #7 on: August 29, 2016, 12:33:41 PM »
Yup.  Location location location.  Area where the rich people live + old city with insufficient parking.

http://abcnews.go.com/Business/record-prices-parking-spots-boston-san-francisco/story?id=19403459
$560k for 2 spaces...but tandem (and 3 years ago).  And the woman who bought it did so she'd have space for guests and contractors.

MoneyCat

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Re: Boston Parking Space Sells for $400,000
« Reply #8 on: August 29, 2016, 12:40:25 PM »
I am speechless. That's more than I paid for my house and I live in one of the most expensive states in the country.

MgoSam

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Re: Boston Parking Space Sells for $400,000
« Reply #9 on: August 29, 2016, 12:51:09 PM »
Yeah, whenever I think of how parking is for my guests (I have one parking spot for them behind my garage, rest have to park on the street and walk up a steep driveway), I remind myself of people that live in SF or Boston and I feel better.

On a side note, it seems like nearly everyone my age uses Uber on a regular basis, whereas I have never ever paid for it*




*Used uber when visiting my cousin, but he insisted on using it and was happy to pay for it, he's unmustachian.

wevan

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Re: Boston Parking Space Sells for $400,000
« Reply #10 on: August 30, 2016, 08:59:29 PM »
On a side note, it seems like nearly everyone my age uses Uber on a regular basis, whereas I have never ever paid for it*
I used my first Uber last weekend, when going to my cousin's wedding on the other side of the country.  (Yes, unmustachian, but family.)  It was nice, but not so nice as to replace my bike while I'm around home.

Tjat

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Re: Boston Parking Space Sells for $400,000
« Reply #11 on: September 01, 2016, 06:43:08 AM »
Especially insane because I'm pretty sure you can rent a parking spot in that neighborhood for $500 a month (I work nearby and you can get parking for $300/month near me), which is ALSO ridiculous but still way more reasonable than buying one at $400K!

And all this for the privilege of driving in Boston traffic... yikes.

Apparently the purchaser believes that he will need the spot for 67 years, which is just past the nominal breakeven point. Of course if you factor in opportunity cost of lost investments, there is no breakeven point

zephyr911

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Re: Boston Parking Space Sells for $400,000
« Reply #12 on: September 01, 2016, 07:40:45 AM »
Jebus. I could get a pretty nice 3000SF home on a lakefront or up a mountain with a view, for that much. Reasons I stay in Bama, despite its drawbacks.

Dicey

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Re: Boston Parking Space Sells for $400,000
« Reply #13 on: September 01, 2016, 08:01:05 AM »
Meh? Who cares? Who am I to say how she spends her money? She could be so rich that 400k makes no impact on her net worth. Good on the seller for finding a willing buyer. A textbook case of supply and demand.

mskyle

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Re: Boston Parking Space Sells for $400,000
« Reply #14 on: September 01, 2016, 08:05:41 AM »
On a side note, it seems like nearly everyone my age uses Uber on a regular basis, whereas I have never ever paid for it*
I used my first Uber last weekend, when going to my cousin's wedding on the other side of the country.  (Yes, unmustachian, but family.)  It was nice, but not so nice as to replace my bike while I'm around home.

Uber might not be the most Mustachian but in Boston (and a lot of other cities, I'm sure) it generally comes out ahead of paying for parking. (It's even pretty competitive with the subway if you've got a few people in the car. More expensive than biking, obviously, but I do sometimes hang out with people who don't bike.)

BlueHouse

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Re: Boston Parking Space Sells for $400,000
« Reply #15 on: September 05, 2016, 10:36:59 AM »
On a side note, it seems like nearly everyone my age uses Uber on a regular basis, whereas I have never ever paid for it*
I used my first Uber last weekend, when going to my cousin's wedding on the other side of the country.  (Yes, unmustachian, but family.)  It was nice, but not so nice as to replace my bike while I'm around home.

Uber might not be the most Mustachian but in Boston (and a lot of other cities, I'm sure) it generally comes out ahead of paying for parking. (It's even pretty competitive with the subway if you've got a few people in the car. More expensive than biking, obviously, but I do sometimes hang out with people who don't bike.)
Yeah, here in DC, Uber can be a better deal than metro or driving & parking.  When I'm traveling alone, I typically hop on a bikeshare, but traveling with 2, 3, or 4 others Uber starts to make more financial sense.