Monday, June 15, 2009

The $300,000 Parking Space

It's more than many people pay for a house. An unidentified buyer paid $300,000 for a coveted private parking space in Boston's Back Bay Wednesday. It is the most expensive parking space in the city's history, according to Debra Sordillo of Coldwell Banker Residential Brokerage, who brokered the deal. Sordillo said that several residents at 48 Commonwealth Ave. engaged in a bidding war for the space, driving the original asking price of $250,000.

"There's only so many parking spaces in the city," Sordillo said. "And in this part, there's very few. It’s all a question of supply and demand."


I guess the recession isn't affecting everyone. Dude dropped 300K on a parking space. I know trying to find parking in an urban area can be nerve racking. Nevertheless, I would not spend that much even if I had it. I don't want to come off as a hater though. This person has the right to spend his or her expendable income on whatever he or she chooses. I have seen entertainers spend money on crazier things. I just hope the person who purchased that parking space does some charity work. 300 grand could feed a lot of people and put a lot of students through college. It must be a very liberating feeling to know that "Money Ain't A Thing."

In the Ferrari or Jaguar switchin four lanes
With the top down screamin out
Money ain't a thang
Bubble hard in the double R flashin the rings
With the window cracked holla back
Money ain't a thang