Garage Parking Spots in Boston
From the South End to the North End, Boston parking spaces, especially garage parking spaces, are a scarce resource. Most new housing in Boston are being accompanied by underground garage parking, but not all, and in neighborhoods like Beacon Hill, where streets are tight and automobiles were not yet invented when the neighborhood was being established, parking spaces are rare and in high demand.
Demand for Boston parking is fiercest on Beacon Hill, as many of the 18th and 19th century homes do not have their own designated parking spaces.
Garage parking at Beacon Hill’s Brimmer Street Garage represents the most exclusive venue to capture a parking space in the historic Boston neighborhood. 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 $250,000 to lay claim to one of the most exclusive parking spaces in Boston.
Brimmer Street Parking Garage Investment Facts:
A single deeded garage parking space at the Brimmer Street Garage has increased in value by approximately 97% since the year 2000 when the average sales price was approximately $110,000 to sales prices that are now consistently in excess of $200,000. Given the limited supply of parking spaces on Beacon Hill, and the excessive demand for quality garage parking, owning a parking space in the Brimmer Street Garage represents not only a sound home for an automobile, but a sound investment as well.