BOSTON (WHDH) - The packed streets of Beacon Hill can make street parking hard to come by. With a parking spot being such prime real estate, you could end up paying a pretty penny for it.
“I guess it’s survival of the fittest a little,” said Heather Skinner, who lives on Beacon Hill.
One parking spot on Beacon Hill in Boston is on the market for $750,000. Plus another $400 a month in home owners association fees and property taxes.
The price of the parking spot is more than the median price of a home in Massachusetts.
“There’s a lot of money here now,” said Frank DiCicco, who works on Beacon Hill. “Price is really not important like it used to be.”
The spot is a single parking space inside the private Brimmer Parking Garage.
The private garage has its own filling station, car washing services, and other amenities.
After one week on the market, the listing agent says people have already shown interest.
“To the average person, or to somebody out of the area, they would have a hard time comprehending and understanding the price of this parking spot,” said Listing Agent Rene Rodriguez. “However, it’s situated in Beacon Hill, which is a historic neighborhood in Boston… And the way that Beacon Hill evolved in Boston over the course of the late 18th, 19th century, there weren’t cars. There were horses and carriages, and there was no place to park cars… They didn’t have allies behind buildings either.”
The agent believes the spot will likely be sold by the end of the week.
“They’re not building anymore parking on Beacon Hill, so I think it’ll always be a good investment,” said Rodriguez.
“We have free parking on this street, so I can’t imagine paying a quarter of a million dollars for parking,” said Skinner.
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