Business & Tech
Back Bay Parking Spots Auctioned For Astronomical Price
The Boston Globe reported the price is a record for Boston tandem spaces.
The Boston Globe reported an IRS auction of two Back Bay parking spots Thursday resulted in the tandem spaces going to a local woman for a cool $560,000.
Lisa Blumenthal won the bidding for the spots behind 298 Commonwealth Ave., which were seized by the IRS from a man who owed $600,000 in back taxes and who bought the spaces for $50,000 20 years ago.
Despite the sky-high price, the Globe reported the record for one parking space in Boston is $300,000 for one at 48 Commonwealth Ave. in 2009. A real estate broker on scene said Thursday's auction was a city record for tandem spaces.
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In comparison, the Globe reported the median sales price of a single-family Massachusetts home is $313,000.
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