$560,000 Parking Spots Sold In Boston Bidding

Only the can-affords in Boston area are willing to pay a small piece of parking spot for a whopping $560,000. Lisa Blumenthal won the spots in the city’s Back Bay neighborhood during an on-site auction Thursday held by the Internal Revenue Service. The IRS had seized the spots from a man who owed back taxes.

According to The Boston Globe:

Bidding began at $42,000. It shot up to six figures within seconds. When the auction ended 15 minutes later, the lucky winner agreed to pay $560,000 — nearly double the $313,000 median sales price of a single-family home in Massachusetts. “This is just amazing,” said Ken Tutunjian of Coldwell Banker Residential Brokerage, declaring the price a new parking space high. “God bless America.”

Lisa Blumenthal, who lives in a single-family home with three parking spots on Commonwealth Avenue valued at more than $5.8 million, according Cabot & Co.