Boston Resident Pays $560,000 For Two Parking Spots, In IRS Auction

on June 14 2013 1:10 PM
Boston
In an IRS auction, a Boston resident agreed to pay $560,000 for two parking places in a Boston neighborhood in a near-record bid. Largest Park: Stony Brook Reservation at 567 acres Most Visited Park: Boston Common creative common

Lisa Blumenthal of Boston’s tony Back Bay neighborhood will pay $560,000 for a pair of highly desired parking spots near her home, after an IRS auction, the Boston Globe reports.

Bidding started at $42,000 but escalated to six-figure prices within seconds. The IRS seized the parking spots from a man who owed almost $600,000 in back taxes and auctioned them off on Thursday.

The most expensive parking spot on record in Boston, set in 2009 at $300,000, is also in the Back Bay neighborhood.

Beth Dickerson from Gibson Sotheby’s International Realty told the Boston Globe: “The demand is not about value. It’s about wanting the parking spot at whatever cost.”

The median price of a single family home in Massachusetts is $313,000, AP reports.

More News from IBT MEDIA