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Need parking? This South End space is available for $125,000

Buying News South End
Parking space available at 35 Fay St.
The parking space available at 35 Fay St. Jim Souza

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.

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