New wave of 24th Street condos offer parking

TRD New York /
May.May 27, 2011 11:50 AM

Despite city policymakers and environmentalists advocating against motor vehicles on Manhattan Island, several developers are betting that wealthy homebuyers still value their cars, the New York Times reported. And in a bizarre twist, three of the most notable new condominiums with parking stand along 24th Street. In Chelsea, there’s the Millhouse Properties-developed 159 West 24th Street, an eight-story, 24-unit building with eight internal parking spaces. While two are reserved for penthouse buyers, the remaining six will sell for $200,000. Four avenues west along 24th Street is 200 Eleventh Avenue, developed by Young Woo & Associates and Urban Muse, where most of the building’s sixteen units come with a parking space next to the living room. Residents can be lifted to their homes in their vehicle via a car elevator. All but one unit in the building has sold, with prices ranging from $3 million to $17 million. Meanwhile, on the other side of 24th Street Near Lexington Avenue, sales are set to launch at One48 is a 55-unit condo adjacent to a 64-space garage. The garage will be open to the public, but residents of the building developed by American Development Group and Langsam Property Services can lease a space for $375 per month. As the Times notes, it’s a surprising trend considering the continued descent of registered vehicles in Manhattan. [NYT]


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