Wealthy Collectors Turn to Luxury Car Condos for Space and Community
Affluent enthusiasts are buying high-end vehicle-storage condos, where they can park prized cars and mingle with peers.
After downsizing his home, collector Scott Cunningham realized he needed a dedicated space for his Ferraris, Porsches, motorcycles and other valuables, leading him to create The Hangar Group in 2019. The company sells large, high-priced condo units in South Florida, with plans to open a location in the Hamptons, catering to owners who want to showcase and share their collections. In Nevada, Rusty Brown is developing The Stacks Auto Lofts, a 29-unit complex near Las Vegas, where the most expensive unit sold for just under $1.6 million.
Meanwhile, Gil Dezer’s Dezer Development built the 60-story Porsche Design Tower in Sunny Isles Beach, equipped with a patented car-elevator system that delivers vehicles to residents’ apartments. All three projects stress community and convenience, allowing collectors to free up home space while enjoying a network of peers who share their passion.
Why it matters
The trend shows how ultra-wealthy buyers are reshaping real-estate to accommodate high-value hobby collections.
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