Selling a new condo? Automated parking may help

New developments increasingly include high-tech parking to lure buyers

New York /
Dec.December 23, 2016 10:19 AM

It’s not easy to sell a luxury condominium these days, and buyers just aren’t as satisfied with indoor swimming pools and marble-laden chef’s kitchens as they once were. Enter the automated parking system — complete with sensors and robotic platforms — that developers are featuring more and more at their new developments.

Before the real estate crash in 2008, automated parking starting showing up at a few projects in Downtown Manhattan. The systems are now making something of a comeback in both Manhattan and Brooklyn, the Wall Street Journal reported.

At the Waverly, Orange Management’s 48-unit condo development at 502 Waverly Avenue in Clinton Hill, for example, the drivers leave their car on a metal tray embedded in the floor. The car is then measured and photographed and lowered onto a machine that puts it on a vacant rack. When the owner returns, the car is retrieved.

It’s a similar story at 325 Henry Street in Cobble Hill where the developer, OTL Enterprise, told the journal automated parking it installed has sped up sales. At World Wide Group and Rose Associates’ 252 East 57th Street condo owners will have access to an automated parking bay with 54 spaces, according to the publication. And Related Companies’ 520 West 28th Street development near the High Line will also use the technology. [WSJ] Miriam Hall


Related Articles

arrow_forward_ios
Hong Kong Stock Exchange (Getty)
Investors sell off Chinese real estate stocks
Investors sell off Chinese real estate stocks
124 South Middle Neck Road in Great Neck, Long Island and Hornig Capital Partners Managing Partner Daren Hornig (Google Maps, Hornig Capital)
Size, security, transparency: Great Neck apartment project delayed following local pushback
Size, security, transparency: Great Neck apartment project delayed following local pushback
Ardie Tavangarian (Photo by Kevin Scanlon)
LA’s gentleman builder on developing for the ultra-wealthy
LA’s gentleman builder on developing for the ultra-wealthy
495 Hoffman Lane in Hauppauge and Beechwood Organization CEO Michael Dubb (Google Maps, Belmont Child Care)
Luxury senior living could replace shuttered Hauppauge school
Luxury senior living could replace shuttered Hauppauge school
66 University Place (Google Maps)
Grove Press building to be pulverized by luxury condo development
Grove Press building to be pulverized by luxury condo development
A rendering of River Ring with Two Trees CEO Jed Walentas (BIG, Getty)
CB1 approves Two Trees’ River Ring, keeping project on pace
CB1 approves Two Trees’ River Ring, keeping project on pace
The Closing: Nancy Ruddy
The Closing: Nancy Ruddy
The Closing: Nancy Ruddy
City won’t landmark Grand Prospect Hall, clearing way for demolition
City won’t landmark Grand Prospect Hall, clearing way for demolition
City won’t landmark Grand Prospect Hall, clearing way for demolition
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...