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

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Hidden deep below a few of Latest York City’s most luxurious apartment buildings is an exclusive world of futuristic parking spaces where high-end vehicles are parked and retrieved by robotic parking systems. 

The high-tech spots are a rare amenity within the Big Apple, and should you want your automobile to occupy certainly one of these VIP spaces you have to be able to fork over a whole bunch of 1000’s of dollars.

The spots are only accessible to residents of buildings where the apartments will set you back several million, and should you want your automobile to live there too you’ll have between $300,000 to $595,000 more to attain some precious space within the private garage.

CNBC found two buildings in Manhattan offering spots on the market inside a so-called robo-parking garage.

The primary is situated at 121 East twenty second Street near NYC’s Gramercy Park where a 140-unit condo constructing developed by Toll Brothers offers 24 automated parking spots.

High above the twenty second St condo’s underground garage is the wraparound terrace of a 5-bedroom duplex apartment that recently sold with a $300K parking spot for $9.45 million.

DroneHub Media

Earlier this month, Lori Alf, a full-time resident of Florida, picked up certainly one of the rare parking spaces for $300,000 when she purchased the constructing’s priciest unit: a 5-bedroom duplex spanning almost 3,800 square feet.

She told CNBC the package deal, which totaled $9.45 million, was a present to her children who at the moment are spending more time in Latest York.

The sun-drenched living area inside Lori Alf’s penthouse unit at 121 E twenty second St.

Toll Brothers City Living

Now when Alf or her kids need to park the family’s Porsche Cayenne within the condo’s garage they pull as much as a kiosk where the wave of a small radio frequency ID tag unlocks access to a subterranean automobile lair where no humans are allowed. 

Pressing a button on the kiosk sends a jolt of life into an empty metal pallet one level below. It slides across a track onto a robust lift that sends the empty pallet up toward ground-level to satisfy the Alfs who can then rigorously position their automobile on top of it.

As a vehicle enters the automated system a motion board delivers messages to the driving force to guarantee the vehicle is positioned properly for the parking process to start.

CNBC

Before their wheels are whisked away, a set of cameras scan the system’s entryway to substantiate the automobile’s trunk and doors are all closed — and that there aren’t any objects or humans left behind which may obstruct the automation. 

When the scanners deliver the “all clear,” the pallet, with automobile on top, disappears into the ground, pausing briefly because it descends into the basement to spin the vehicle 180 degrees before slotting it into certainly one of the empty spaces.

The system can lift and shuffle two dozen cars across 4 rows and two levels. 

A automobile parked on the lower level of the automated parking garage at 121 E twenty second St where prices start at $300K per spot.

CNBC

Retrieving the automobile is lots like making a variety from an enormous vending machine. Residents swipe their RFID tags once more, and the system delivers their cars in about 2 minutes and 15 seconds.

One among the perks for Alf: She never has to place the automobile in reverse to exit the constructing.

“The automobile is turned for you by the robot,” she told CNBC. “Who doesn’t live for a robot that sets you in the best direction in NYC?”

Pedro Fernandez, an area sales representative for Klaus Parking, the corporate that sold the German-made parking system to the constructing’s developer, told CNBC it’s essentially the most automated garage he’s ever installed in Manhattan. 

The corporate’s top-tier system typically costs between $50,000 and $70,000 per spot installed. Fernandez said developers invest over 1,000,000 dollars within the intelligent parking infrastructure since it’s super efficient at arranging vehicles 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 cars around a two-tier subterranean parking structure.

CNBC

“There was no other method to park 24 cars,” Fernandez said of the garage space under 121 East twenty second Street.

The self-parking system can unlock more spaces per square foot since it doesn’t require the ramps and driving lanes you see in most conventional garages, he said.

​”As crazy as it might sound, $300,000 for a residential parking spot is taken into account an inexpensive price in Latest York City,” said Senada Adzem, a Florida-based real estate broker at Douglas Elliman, whose team represented Alf in her recent purchase.

Adzem told CNBC spots within the system that include a charging plug for electric vehicles will run you $350,000. And whether it’s electrified or not, every parking spot carries a $150 per-month maintenance fee.

“The general lack of parking in town, an ongoing problem without end, will only escalate such pricing,” said Adzem. 

She believes short supply could turn the seemingly lavish expense right into a money-maker for owners, who could eventually resell their spot at a profit.

A automobile contained in the automated parking garage at 520 West twenty eighth where spots start at $450K.

Martien Mulder & Related

Across town, parking spots are even pricier in a constructing that was once home to popstar Ariana Grande and currently houses rock musician Sting and his film producer wife Trudie Styler.

The value to park at 520 West twenty eighth Street starts at $450,000. 

The $16.5M penthouse at 520 W twenty eighth St unfolds over the fifteenth & sixteenth floors, featuring 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 Firms, features a 4,500-square-foot penthouse currently available on the market for $16.5 million. And in accordance with listing agent Julie Pham of Corcoran, a automobile parking space within the constructing’s garage can cost upwards of $595,000 more per vehicle.

“I’d never seen anything prefer it before,” Pham said of the unique amenity.

Residents can use an app to speak with the so-called “secured parking portal” and remotely start the automated retrieval process so the automobile is able to go once they are.

The $16.5M penthouse listing includes ten rooms and almost 4,500 sq ft of indoor living space, the asking price doesn’t include parking.

Colin Miller / Related

While Pham would not reveal the identities of any past or present clients, she did tell CNBC the automated parking was a serious draw for one famous resident, who had a security team examine the parking area prior to moving in.

The unnamed celebrity’s representatives OK’d the deal partially since the star could enter and exit the garage in total privacy, Pham said.

 “They liked the concept you did not have to interact with a valet or an attendant, or that anyone couldn’t are available in right behind you,” she said.

And throughout the pandemic, the broker said, residents who wanted to reduce their exposure to Covid-19 loved that they may deposit and retrieve their vehicle without handing over their keys to a valet.

While the automated spots are pricey, they are not even near NYC’s most costly.

In recent times, some condo developers have pushed their asking prices for a basic concrete-and-yellow-stripe parking spot to the $1-million mark, in accordance with Jonathan Miller, president of Miller Samuel, a firm specializing in real estate appraisals and consulting. Still, he said, it’s unlikely a spot with a 9-figure asking price has ever lured in an actual buyer.

“I never found evidence of their actual closings,” he told CNBC.

Miller, who analyzed public records at CNBC’s request, said one of the expensive parking spots sold on the town last 12 months was situated at 220 Central Park South, where a automobile parking space went for a powerful $750,000. Miller said, based on public records, it appears connected to an apartment within the constructing that traded for $16 million.

“It’s really tough to trace since most sales are embedded within the sale of a unit,” Miller told CNBC.

And it’s even tougher to trace sales of spots within the newer automated systems, because, in lots of cases the spots are literally licensed to buyers, not deeded and sold like most real estate, in accordance with brokers.

Miller said his best estimate for the going rate of a single NYC parking spot: “I feel $300,000 to $400,000 is the sweet spot for brand new development.”

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