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Oct 06, 2023

Not downtown Tokyo, but it is New York's upscale buildings that are now being equipped with futuristic robotic parking systems that can cost more than three Tesla Model S cars.

Living in cities like New York or London comes with its own set of challenges.

Living in cities like New York or London comes with its own set of challenges. Even if you’re lucky enough to find accommodation that suits your needs, finding one with a parking spot can be a huge challenge. That's one of the main reasons people residing in such metropolises prefer not to own a car. A few months back, we came across an absurd listing for a parking spot near Harrods in Knightsbridge, Central London. It was barely big enough to fit in a compact hatchback, yet the asking price for it was more than $100,000. If you find that ludicrously expensive, wait till you hear about the premium parking spots in New York. CNBC recently published a report on high-tech parking spots in the Big Apple, which definitely is one of the rarest amenities in the city. Some of these parking spots can sell for around half a million dollars.

Developers in New York are opting for so-called robo-parking garages to help maximize the usage of space available. These high-tech setups are more like automotive vending machines that effortlessly whisk away cars and store cars in compact spaces. In its report, CNBC featured two buildings in Manhattan offering parking spots for sale. A 140-unit condo building developed by Toll Brothers and located at 121 East 22nd Street near NYC's Gramercy Park only has 24 automated parking spots. Obviously, they are not going to be cheap. A Florida-based buyer paid a whopping $300,000 when she purchased the building's most expensive unit – a $9.45 million duplex spanning almost 3,800 square feet.