Ultra-rich people in NYC demand apartments with (gasp) driveways

The trend towards motor courts has accelerated notably in the last two years, according to Kent Securitys Alon Alexander, who has seen a major uptick in inquiries from luxury developers on how best to incorporate the feature in an architectural brief. Theyre driven, of course, by twin concerns: privacy and security.

Theres also a less concrete allure to motor courts: in a city where developers want to wring maximum value from every square foot, theres an extravagance in leaving such a large space empty. It tacitly telegraphs a developers largesse and indulgence, at least according to Alon Alexanders twin brother, Oren. He is a sales executive for 565 Broome. A regular developer might squeeze a retail site, or extra amenities like a larger lobby, from that space but a driveway is the definition of luxury, Oren says by cellphone, Its space where you dont typically get it. Jasmine Mir, CMO of Corcoran Sunshine, puts its more simply. Buying a penthouse at the top of a building is one thing, but the sense of extravagance and luxury associated with having space at street level in a congested place like New York? It gives an amazing sense of wow! to any arrival, a real grandeur, she says by phone from her office.

"New Yorks Latest Must-Have Luxury Apartment Craze Is Driveways"