NYC robotic parking systems cost luxury residents $300,000 per space

Hidden deep under a few of New York City's most luxurious condo buildings is an unique world of futuristic parking areas the place high-end automobiles are parked and retrieved by robotic parking systems. 

The high-tech spots are a uncommon amenity within the Big Apple, and if you’d like your automotive to occupy one in every of these VIP areas you've received to be able to fork over lots of of hundreds of {dollars}.

The spots are solely accessible to residents of buildings the place the residences will set you again a number of million, and if you’d like your automotive to reside there too you'll want between $300,000 to $595,000 extra to attain some valuable space within the non-public storage.

CNBC discovered two buildings in Manhattan providing spots on the market inside a so-called robo-parking storage.

The first is situated at 121 East twenty second Street close to NYC's Gramercy Park the place a 140-unit apartment constructing developed by Toll Brothers presents 24 automated parking spots.

High above the twenty second St apartment's underground storage is the wraparound terrace of a 5-bedroom duplex condo that just lately offered with a $300K parking spot for $9.45 million.DroneHub Media

Earlier this month, Lori Alf, a full-time resident of Florida, picked up one of many uncommon parking areas for $300,000 when she bought the constructing's priciest unit: a 5-bedroom duplex spanning nearly 3,800 sq. ft.

She advised CNBC the bundle deal, which totaled $9.45 million, was a present to her youngsters who are actually spending extra time in New York.

The sun-drenched residing space inside Lori Alf's penthouse unit at 121 E twenty second St.Toll Brothers City Living

Now when Alf or her children need to park the household's Porsche Cayenne within the apartment's storage they pull as much as a kiosk the place the wave of a small radio frequency ID tag unlocks entry to a subterranean automotive lair the place no people are allowed. 

Pressing a button on the kiosk sends a jolt of life into an empty steel pallet one degree under. It slides throughout a monitor onto a robust raise that sends the empty pallet up towards ground-level to fulfill the Alfs who can then fastidiously place their automotive on high of it.

As a car enters the automated system a movement board delivers messages to the motive force to guarantee the car is positioned correctly for the parking course of to start.CNBC

Before their wheels are whisked away, a set of cameras scan the system's entryway to substantiate the automotive's trunk and doorways are all closed — and that there are not any objects or people left behind which may hinder the automation. 

When the scanners ship the "all clear," the pallet, with automotive on high, disappears into the ground, pausing briefly because it descends into the basement to spin the car 180 levels earlier than slotting it into one of many empty areas.

The system can raise and shuffle two dozen automobiles throughout 4 rows and two ranges. 

A automotive parked on the decrease degree of the automated parking storage at 121 E twenty second St the place costs begin at $300K per spot.CNBC

Retrieving the automotive is loads like making a range from an enormous merchandising machine. Residents swipe their RFID tags as soon as once more, and the system delivers their automobiles in about 2 minutes and 15 seconds.

One of the perks for Alf: She by no means has to place the automotive in reverse to exit the constructing.

"The car is turned for you by the robot," she advised CNBC. "Who doesn't live for a robot that sets you in the right direction in NYC?"

Pedro Fernandez, an area gross sales consultant for Klaus Parking, the corporate that offered the German-made parking system to the constructing's developer, advised CNBC it's essentially the most automated storage he's ever put in in Manhattan. 

The firm's top-tier system sometimes prices between $50,000 and $70,000 per spot put in. Fernandez stated builders make investments over 1,000,000 {dollars} within the clever parking infrastructure as a result of it's tremendous environment friendly at arranging automobiles and maximizing space.

The view contained in the robo-parking machine at 121 E twenty second St reveals a system of pallets and hydraulic lifts that maneuver automobiles round a two-tier subterranean parking construction.CNBC

"There was no other way to park 24 cars," Fernandez stated of the storage space below 121 East twenty second Street.

The self-parking system can unlock extra areas per sq. foot as a result of it doesn't require the ramps and driving lanes you see in most typical garages, he stated.

​"As crazy as it may sound, $300,000 for a residential parking spot is considered a reasonable price in New York City," stated Senada Adzem, a Florida-based actual property dealer at Douglas Elliman, whose workforce represented Alf in her current buy.

Adzem advised CNBC spots within the system that embody a charging plug for electrical automobiles will run you $350,000. And whether or not it's electrified or not, each parking spot carries a $150 per-month upkeep charge.

"The overall lack of parking in the city, an ongoing problem with no end in sight, will only escalate such pricing," stated Adzem. 

She believes brief provide may flip the seemingly lavish expense right into a money-maker for house owners, who may finally resell their spot at a revenue.

A automotive contained in the automated parking storage at 520 West twenty eighth the place spots begin at $450K.Martien Mulder & Related

Across city, parking spots are even pricier in a constructing that was as soon as dwelling to popstar Ariana Grande and presently homes rock musician Sting and his movie producer spouse Trudie Styler.

The worth to park at 520 West twenty eighth Street begins at $450,000. 

The $16.5M penthouse at 520 W twenty eighth St unfolds over the fifteenth & sixteenth flooring, that includes a 2,040 sq ft terrace that wraps across the constructing's curvaceous glass facade.Colin Miller / Related

The luxe residence, designed by famed architect Zaha Hadid and developed by The Related Companies, features a 4,500-square-foot penthouse presently available on the market for $16.5 million. And in response to itemizing agent Julie Pham of Corcoran, a parking space within the constructing's storage can cost upwards of $595,000 extra per car.

"I'd never seen anything like it before," Pham stated of the distinctive amenity.

Residents can use an app to speak with the so-called "secured parking portal" and remotely begin the automated retrieval course of so the automotive is able to go when they’re.

The $16.5M penthouse itemizing contains ten rooms and nearly 4,500 sq ft of indoor residing space, the asking worth doesn’t embody parking.Colin Miller / Related

While Pham wouldn't reveal the identities of any previous or current purchasers, she did inform CNBC the automated parking was a significant draw for one well-known resident, who had a safety workforce look at the parking space previous to transferring in.

The unnamed movie star's representatives OK'd the deal partially as a result of the star may enter and exit the storage in whole privateness, Pham stated.

 "They liked the idea that you didn't have to engage with a valet or an attendant, or that anyone couldn't come in right behind you," she stated.

And through the pandemic, the dealer stated, residents who wished to reduce their publicity to Covid-19 beloved that they may deposit and retrieve their car with out handing over their keys to a valet.

While the automated spots are dear, they're not even near NYC's most costly.

In current years, some apartment builders have pushed their asking costs for a fundamental concrete-and-yellow-stripe parking spot to the $1-million mark, in response to Jonathan Miller, president of Miller Samuel, a agency specializing in actual property value determinations and consulting. Still, he stated, it's unlikely a spot with a 9-figure asking worth has ever lured in an precise purchaser.

"I never found evidence of their actual closings," he advised CNBC.

Miller, who analyzed public data at CNBC's request, stated probably the most costly parking spots offered on the town final yr was situated at 220 Central Park South, the place a parking space went for a formidable $750,000. Miller stated, based mostly on public data, it seems related to an condo within the constructing that traded for $16 million.

"It's really tough to track since most sales are embedded in the sale of a unit," Miller advised CNBC.

And it's even more durable to trace gross sales of spots within the newer automated systems, as a result of, in lots of instances the spots are literally licensed to consumers, not deeded and offered like most actual property, in response to brokers.

Miller stated his greatest estimate for the going fee of a single NYC parking spot: "I think $300,000 to $400,000 is the sweet spot for new development."

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