Talk about some wicked pricey real estate.
A garage parking space on Beacon Hill could be yours for a cool $750,000, as a real estate agency is seeking offers for the “coveted” spot in the neighborhood without many designated parking spaces.
The valet parking space is available at the Brimmer Street Garage, which has previously seen spots sold for more than $550,000.
Cabot & Company is now bringing this space to the market for $750,000.
“Parking in Beacon Hill is one of the most coveted commodities in the Boston real estate market, and Brimmer Street Garage represents the gold standard,” said Rene Rodriguez, the listing agent at Cabot & Company. “Opportunities to purchase a deeded space in this garage are incredibly rare, making this listing an extraordinary investment for both convenience and long-term value.”
“Having this parking spot is very valuable,” Rodriguez added. “There really aren’t other options for people on Beacon Hill who are spending millions on homes with no parking.”
The garage was converted into a “condominium” in 1979, making individual parking spaces in the garage deeded pieces of property that can be bought and sold.
In 1979, single parking spaces were being sold for $7,500, and now, area residents are paying upwards of $500,000 for spaces. There are 151 spots in the garage.
Many of the spaces never make it to market, and they’re instead traded privately. But this space is heading to the market after a pair of brothers inherited it.
The space has been on the market for a week, and an offer came in on Tuesday.
“The process is the same as buying any other piece of real estate,” Rodriguez said, noting that the sale gets recorded at the Registry of Deeds.
The valet space comes with a range of premium services, including refueling, car washing and other concierge options available upon request and mutual agreement.
The garage also offers guest parking flexibility. Owners may allow anyone to use their unoccupied space at no charge, and additional guest parking is available for a fee, subject to availability.
Certain sized vehicles, such as trucks, are prohibited from being parked in the garage. This restriction is due to the size and weight capacity limits of the elevators, and the parking space constraints on the first floor.
Trucks of any size, including so called “light” pick-up vehicles, cannot be parked in the garage. Also, Hummer vehicles of any size are banned.
Due to the height limitations of the elevators and car lifts, the garage cannot accommodate any vehicles with roof-top or rear attachments.
The garage is staffed from 6 a.m. to 10 p.m. on weekdays, and from 6:30 a.m. to midnight on weekends. While staff is unavailable overnight, owners can arrange in advance to have their car placed in a designated space that’s accessible at all times.