Comments on: Parking Spot in Boston = $300K

By: Minnesotastan

Minnesotastan — Sat, 13 Jun 2009 16:35:36 +0000

The "cost" of the space depends on what return the investor will have in the future. If he/she is able to resell the space next year for what he/she paid for it (300K), then the only money lost is the "opportunity cost" of tying up the funds for that period of time. If current returns of money market funds are 0.6% for a year, then the cost will have been $1800. Of course, when it is resold, there could be a profit to make the net cost lower - or a loss. It's an investment decision.

By: SenorMysterioso

SenorMysterioso — Fri, 12 Jun 2009 00:08:52 +0000

$7,300/year that is

By: Geekazoid

Geekazoid — Thu, 11 Jun 2009 22:41:52 +0000

Good idea SenorMysterioso, I wonder if that would be do-able. Maybe they'd get suspicious of the same car that gets ticketed day in and day out.

But 300 grand for a parking space? In these times no wonder the person wants to be anonymous. That is insane.

By: PaulVI

PaulVI — Thu, 11 Jun 2009 21:28:56 +0000

Let's say it's a $50 ticket to park illegally:

$300,000 ÷ $50/day ÷ 365 days/yr = 16.4 years of illegal parking every day of the year.

That's a lot. I haven't done anything that will require parking 365 days/year for 16 years straight. Don't expect I will.

By: SenorMysterioso

SenorMysterioso — Thu, 11 Jun 2009 20:32:13 +0000

It would only cost $7,300 to park illegally 7 days a week and just pay a $20 ticket every day

By: Skipweasel

Skipweasel — Thu, 11 Jun 2009 20:23:38 +0000

Such a shame the abandonned Superconducting Super Collider is in the wrong place.

By: Christophe

Christophe — Thu, 11 Jun 2009 19:34:54 +0000

Such prices must excite underground parking lot investors... Big Dig #2 !!!

By: Rich

Rich — Thu, 11 Jun 2009 19:13:20 +0000

And how much would it be to hire a driver and give them a cell phone?