‘Absolutely ludicrous': Beacon Hill parking space selling for $750K

A piece of hot real estate has hit the Boston market — a parking space listed at $750,000.

"We were on a tour, and somebody told us that there was a parking spot going up for sale for $750,000, and I was like, 'A parking spot?'" said Kentucky resident Chris Slaughter.

The sticker price on the spot gave locals and visitors like Slaughter sticker shock.

"Absolutely ludicrous," said Spencer Webb of London. "I mean, get the train!"

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The parking space is located in the Brimmer Street Garage in Boston's Beacon Hill.

"It's an exclusive valet parking space, the garage is staffed, there are six or seven attendants here at all times," said Rene Rodriguez, a listing agent with Cabot & Company. "In addition to parking your car for you, they also offer concierge services."

That service includes guest parking, gas fuel-up, car washing, and more – at an extra cost on top of the monthly maintenance fee.

"If you own a $15 million home that has no parking, it adds a lot of value, and the value is not going to come down, they're not building more parking on the Hill, so I think it's a pretty good investment people who live here," Rodriguez said.

With nearly 50 home properties currently listed at over $1 million in Beacon Hill, it's no wonder a piece of 9'-by-18' real estate would go for the price of a median home in the city.

"If you're like an average working person, you can't even touch anything, and you definitely couldn't touch even trying to live in that garage space," said Haverhill resident Debbie Martel.

Parking spots at the Brimmer Street Garage first went up for sale in the 70s at $7,500.

That price jumped to about $300,000 in 2013. A decade later, a few spaces sold for $500,000.

"There is such a gap in the Boston area between the haves and the haves-nots, and this just increases that gap," said Cambridge resident Molly Lomenzo.

"$750,000 would buy you a nice home with a three-to-five car garage in Tallahassee," said Michelle Lynch of Florida.

"We were on Newbury Street, and some of the stores, I couldn't even pronounce," said Slaughter. "So I said, 'I probably can't afford anything in there anyway.'"

With the Boston Public Garden just a block away, a seven-minute walk to the esplanade and the Charles River, and a half mile to the State House, as real estate agents say, it's all about location, location, location.

After a week on the market, Rodriguez said there are buyers who have shown interest.