Parking: $650,000. Condo Not Included

Space in Beacon Hill garage setting an apparent new record for Boston parking

If you had $650,000 to spare, MLS realty listings show, you could buy a three-bedroom, two-bathroom condominium on East Seventh Street in South Boston.

Or you could buy a one-bedroom, one- bath condo in a South End building on Father Francis Gilday Way that comes with two parking spaces.

Or, for the same $650,000, you could buy one single parking space in the Brimmer Street Garage on the flat of Beacon Hill garage. That would be all 171 square feet -- housing sold separately. The listing went up from AJC Real Estate Services LLC Friday, although it was "temporarily withdrawn" Tuesday afternoon after necn and other media outlets began reporting on it.

David Bates of William Raveis Real Estate, who works from an office about four blocks from the garage and wrote about the parking space on his blog, joked in an interview Tuesday afternoon: "I think if you parked outside last winter, you may be tempted to spend that $650,000, you know?"

On some level, he understands the price. "Scarcity is where you've really got to start with that so we've seen homes on Beacon Hill that have had list prices of up to $10 million, but didn't have parking. Very tough to get parking at almost any price."

Mary Catherine Karcich of Worcester, spending time on Beacon Hill Tuesday, said: "It's really frustrating to park around here. Parallel parking isn't fun. "

Her friend Meghan Cassidy agreed that people who can spend several million dollars to live on Beacon Hill may be unfazed by spending another half-million-plus to park there. "If you can afford that condo, then I would say you have some change to throw around," Cassidy said.

But one oe of many reasons the $650,000 asking price is raising a lot of eyebrows is the last parking space to sell here, just last month, went for $390,000. That's 40 percent less than the owners -- whose identity is hard to determine from listing and tax assessment records -- apparently hope to get.

And per square foot that you're buying, that makes the Brimmer Street Garage more expensive, inch for inch, than the $37.5 million dollar condo under construction at the top of the Millennium Tower at One Franklin Street.

And, once you plunk down the purchase price, you still have to pay a $250 monthly condo fee for the all-valet garage, plus some $2,700 a year in city property taxes.

For all those reasons, Bates doubts the owners get their $650,000 price.

"If we were in a situation where we were going to bring in an appraiser,'' Bates said, "I think they'd have a tough time coming back with a valuation of $650,000."

With videographer Tony Sabato  

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