The most valuable piece of Boston real estate is … still a parking lot. More accurately, a parking garage.
The parking garage at One Congress Street was put up for sale, today. It is an 11-story, 2,310-car garage. It also has 313,527 square feet of office and retail space, a large portion of it leased to the federal government, and has views of the Boston Harbor and Financial District.
Parking is in scarce quantity, in Boston, as most of us know.
In fact, in regard to this specific garage, a Globe article once said the parking spaces are “like large bars of gold”.
The owner expects bids to be well over $200 million.
Source: Interest Could Push Parking Garage Sale Over $200M – By Beverly Ford, Globest.com
Earlier: The most valuable piece of Boston real estate … – bostonreb.com, 3/21/2006