{"id":4168,"date":"2013-06-24T06:34:24","date_gmt":"2013-06-24T10:34:24","guid":{"rendered":"https:\/\/www.myparkingsign.com\/blog\/?p=4168"},"modified":"2023-07-13T01:20:27","modified_gmt":"2023-07-13T05:20:27","slug":"boston-bid-parking-spaces","status":"publish","type":"post","link":"https:\/\/www.myparkingsign.com/blog\/boston-bid-parking-spaces\/","title":{"rendered":"Boston woman wins bid for two parking spaces; pays $560,000"},"content":{"rendered":"
\"Parking

Bid for tandem parking in Back Bay, one of the most parking-challenged sections of the city, began at $42,000 (image by The Boston Globe<\/a>).<\/p><\/div>\n

In a city where a single-family home costs nearly $320,000, a Boston woman has bought two parking spaces for hundreds of thousands more. She bid an astonishing $560,000 for two parking spaces next to her multi-million dollar home where she already owns three parking spots.<\/p>\n

The parking spaces for two cars, one behind the other, were auctioned on June 14 after the spots were seized by the IRS from a man who owed $600,000 in unpaid taxes. The bid started out at $42,000 and ended 15 minutes later at $560,000. As the winning bidder, Lisa Blumenthal,\u00a0says<\/a>, \u201cIt was a little more heated than I thought it would have been.\u201d She plans to\u00a0use the additional parking for guests and workers.<\/p>\n

The parking spaces are located in one of the costliest neighborhoods, behind 298 Commonwealth Avenue in the Back Bay, and brokers expected the bidding to stretch up to $300,000.<\/p>\n

\"Reserved

View this sign here<\/a>.<\/p><\/div>\n

Real estate rates have peaked in Boston, and parking spaces are hard to find. Steven Cohen, a Boston based principal and broker says, \u201cin high-value markets, parking prices are driven by supply and demand and wealthy people will pay extraordinary prices for a nearby spot, for the convenience.\u201d<\/p>\n

Bidding for parking spots is not the only unusual parking-related activity Bostonians participate in. Another\u00a0infamous tradition among city residents involves earning a parking spot by shoveling the snow out of it after snowstorms. This is often the subject of heated debates and has historically caused\u00a0neighborhood violence<\/a>.<\/p>\n

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