The price of this Back Bay parking space just got slashed by $30,000. Now it’s only $345,000
If you’ve got hundreds of thousands of dollars to spare to buy something like, oh, let’s say, a parking spot smack dab in Back Bay, what’s a few thousand extra dollars?
A lot, apparently.
A parking space on Beacon Street that was going for $375,000 had its price tag slashed by $30,000 this week, after the owner found it difficult to sell off the premium spot, according to the listing agent.
“Obviously, there was no interest at the higher price,” said Lili Banani of Coldwell Banker Residential Brokerage. “So they dropped the price.”
The space, listed on Zillow.com, is located along Public Alley 420, behind 195 Beacon St., according to details on the real estate website. The spot is described as a “generous single space.”
Banani said it’s “a full space that’s easy to get in and out of,” unlike some other pricey spaces in the Back Bay that “are tighter.”
“Some are more generous, and this is a good generous space,” she said.
While the price may seem high, it’s actually on par with similar spaces that have been put up for sale in the area.
In 2013, someone agreed to pay $560,000 at auction for a pair of parking spaces at 298 Commonwealth Ave. Four years prior, a single space at 48 Commonwealth Ave. sold for $300,000.
“We’re talking about Boston. If you’re talking about parking spaces in Boston, that’s what the price is,” said Banani. “In the Back Bay, they’re the highest.”
She added: “The spots range from $300,000 to $500,000, depending on where it is and where the demand is, and how badly people need a space.”
Banani said since the price dropped on Monday, there has been more interest from potential buyers.
“They have been inquiring,” she said. “I’m hoping that it will sell fairly quickly now.”
If it doesn’t, the price will likely go down again, she said.