March 2016

Parking spaces

Boston Parking Spots: Most Expensive Sales Since 2014

Top-notch parking spots live up to the firstborn and opening Red Sox tickets when it comes to beloved Boston possessions. Not surprisingly, residents and commuters alike will pay a high price for the best of the first.

NeighborhoodX real estate search site analyzed Boston’s most expensive parking spaces sold in 2015 and 2016 to date, and found that their price ranged from a $ 50,000 space at 5 Holyoke Street in the South End to $ 390,000 for a space at 70 Brimmer Street (aka the Brimmer Street Parking Garage) in Beacon Hill.

Based on these sales, in fact, Beacon Hill is the most expensive area to buy a parking space, followed by Back Bay and South End.

As for that Brimmer Street garage space that made nationwide news last year when it asked for $ 650,000, it’s not included in NeighborhoodX’s recap. Why? Because it never sold. The price fell to $ 415,000 and then the space completely disappeared from the market. According to Constantine Valhouli, co-founder of NeighborhoodX, Brimmer Street Garage spaces generally tend to cost $ 250,000 to $ 390,000.

A note on the graph: he focused on parking offerings that could be negotiated independently and not as part of a residency.

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Parking spaces

These parking spaces have a waiting list of 30 years

Parking in town can be a nightmare, but imagine waiting until 2046 to get a spot. NY1’s Michael Scotto reports on what might be the most coveted parking spots in New York City.

Charlie Smith is one of the lucky ones. He pays $215 a month to park in the garage that’s part of the apartment complex where he lives, the Seward Park Cooperatives on Manhattan’s Lower East Side. Space in nearby garages costs twice as much.

“It took me 10 years to get a parking spot,” Smith said. “I’ve been here about eight years.”

Paul Nasrani has been waiting for 14 years for one of the 380 places. Her mother-in-law, who just bought an apartment here, might not live long enough to have one. He was told not to expect a place until 2046.

“It’s going to take a while,” Narsani said.

Every New Yorker with a car knows that finding a parking spot takes patience, but for residents here, it can take a lifetime. The co-op’s board says the waiting list, posted in the lobby, is now 30 years old.

Parking spaces are so important to the residents of the complex that they are now at the center of a major battle.

It all started after the cooperative’s board of directors decided to make changes to the management of the establishment. To increase its income, the council hired a company to run the garage. Instead of self-parking, it’s now valet parking.

The company also plans to reconfigure the spaces to increase capacity to 100 cars to accommodate daytime parking.

In a fiery meeting this week, residents with spaces praised the extra capacity, but not the day parking and valets.

“I for one don’t like someone driving my car,” said Donald West, a resident of Seward Park Co-ops.

But for residents like Julie Schnee, who has been waiting for 12 years, the extra spots bring hope.

“We are number 39,” she said.

The same goes for Nasrani, who is fed up with her street parking routine.

“You live on the alternate calendar. October is the best month of the year. You have Jewish and Muslim holidays, all back to back, it’s like a month off,” he said.

The new capacity is not expected to reduce the 30-year wait as many young families with cars have moved in. The waiting list now has 670 names.

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