What’s gray, bordered on two sides by bright yellow lines, and costs $125,000? A newly listed garage parking spot at 35 Fay St. in the South End.
In a housing market where the median home values rose 4 percent between November 2017 and November 2018, and rent in the city is the third most expensive in the country, just a parking spot alone runs over six figures. It happens more often than you’d think, and this space is actually priced considerably lower than others that have sold.
A Back Bay parking space was originally listed at $375,000 before the seller dropped it by $30,000 in August 2018.
Then there was this listing from November 2015 in Beacon Hill — a parking space for $650,000.
As far as parking, “I would say the number one question I get … is ‘Can we buy more parking? We have two cars, we have three cars. Can we buy another parking space?’ ” Jim Souza with Donnelly + Co., and the listing agent for this property, said.
In some buildings, the deed for the parking space is separate from the living space, Souza said; they also come with their own tax bill. The condominium fee is also separate — this one’s is $72 per month.
With the separate deed, condo owners can sell their parking space to someone who lives outside the building, according to Souza.
Souza said he lists a parking space maybe once a year.
For perspective, less than $125,000 can buy this three-bedroom, three-bath home with a new roof in San Antonio or this three-bedroom, two-bathroom historic house in Edwardsville, Ill., about a half-hour outside St. Louis.