Lowell Deeds

The latest on real estate recordings and new technology from the Middlesex North Registry of Deeds in Lowell

June 11, 2009

$300K for a parking space?

by @ 2:37 pm. Filed under Current Events

When I arrive home after work today, I’ll look at my driveway in an entirely different way after reading today that the new owner of the property at 48 Commonwealth Ave in Boston paid an additional $300,000 for a parking space that went with the property. I know parking in Boston in expensive - that’s why I take the train whenever possible - but when the cost of ownership of space for a single car exceeds the purchase price of the majority of homes in Lowell, you know something is out of whack. I suppose I should have figured this out already. During past meetings and conferences on the Massachusetts Deed Indexing Standards, attorneys who regularly do real estate work in Boston would become obsessed with how the registry indexed parking spaces that were often buried deed in the description section of a deed conveying a residential unit. Those of us from outside of Boston never could summon much enthusiasm or concern for this issue. After today’s article, however, I know I’ll be paying much closer attention to documents related to parking spaces than I ever have before.

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