In most major cities, $650,000 will land you a pretty nice home. In Boston's tony Beacon Hill neighbourhood, it will get you a parking spot. And nothing else.
Yes, a 171-square-foot space was listed for four days on MLS with an asking price of $650,000 (U.S.). The listing was removed on Tuesday.
At $3,801 (U.S.) per square foot, it's almost six times the price per square foot of a 1,500-square-foot house that sells for $1 million.
The asking price is also more expensive than half the condos for sale in the city, according to Bates Real Estate Report. The spot is also more than the $599,000 (U.S.) price of an average home Boston, according to Realtor.com.
The parking lot isn't open between midnight and 6:30 a.m. and owners must surrender their keys to a valet.
In addition, the new owner will have to pay a monthly fee of $250 and yearly property taxes for 2016 totalling $2,785.
This is not the first time a Boston parking spot has commanded a hefty premium. Tandem spots in the Back Bay area sold for $560,000 (U.S.) in 2013 and a single spot sold in the same area in 2009 for $300,000 (U.S.).
Those figures are far above anything offered in Canada. In Toronto, MLS lists one spot for $75,000 on Front. St. A few others in the city list for $50,000.
Arthur Ledoux, a supervisor in the Boston building, told the Boston Globe that, in 1979, spots were going for $7,500 (U.S.) and now they are selling for $250,000 (U.S.).
But the $650,000 price tag doesn't seem so crazy when considering what cars are parked in the lot. Ledoux said the spot's new owner will be parking next to cars worth more than $200,000.
Videos of inside the garage show it full of Land Rovers, Mercedes and a classic Mustang.
Like us on Facebook
Follow us on Instagram
Add us to your circles
Sign up for our weekly newsletter