The Real Deal New York

New wave of 24th Street condos offer parking

May 27, 2011 11:50AM

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From left: 159 West 24th Street, 200 Eleventh Avenue and 148 East 24th Street

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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