Be ready to drop a pretty penny — up to $750,000 — just to park in the posh Beacon Hill neighborhood of Boston. The elite 105-acre neighborhood has some of the most exclusive parking options in the country. The Brimmer Street Garage features coveted parking spaces that are regularly sold for $500,000. Eager buyers often pay for their parking spaces entirely in cash, given the fact that most of the homes average $4 million and up. Because parking in the historic neighborhood is extremely limited, wealthy locals are willing to drop huge sums of money for the sake of convenience. Tracking sales of parking spaces is difficult, because many are included in the sale of condos and homes. Homeowners say you have to look at parking spaces as though they are a piece of land. Spots in the garage are sold privately and their owners are required to pay association fees as well as property taxes on the spaces. Owners of the parking spaces also enjoy round-the-clock valet service, as well as services like having their cars washed, detailed, and filled with gas. There is currently a waiting list for purchasing parking spaces in the garage.
