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Tandem parking spots sold for $560,000 in Boston, report says

June 14, 2013|By Shan Li

Los Angeles residents are intimately familiar with jostling for limited parking spaces. But Angelenos may have nothing on Boston, where one woman just paid more than half a million dollars for two parking spots near her house.

During an aunction Thursday in the city's Back Bay neighborhood, Lisa Blumenthal won two off-street spots for a whopping bid of $560,000, according to the Boston Globe.

The Internal Revenue Service, which operated the auction, had seized the coveted spaces from a man who owed back taxes, the report said.

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In a neighborhood that had already set a record for the priciest single parking space in 2009 (that went for $300,000), the bidding Thursday began at $41,000 and quickly shot up to six figures. Within 15 minutes, Blumenthal had snagged the spots.

The lucky auction winner said the spaces were intended for guests and employees. Her family already owns three parking spots attached to their home, the report said.

The jaw-dropping Boston sale came on the heels of another pricey parking purchase last week in San Francisco, where an unidentified buyer paid $82,000 for a spot in the city's hip South Beach neighborhood, the San Francisco Chronicle reported. Real estate agents said that coveted parking spots can be a good investment and add a $100,000 premium to a piece of property.


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