Luxury Car Condo In Florida Stores Exotic Collections For A Hefty Sum

Oct. 01, 2023 2:37 PM ET by Rex Sanchez Luxury / 1 Comment

The starting price is $799,000 for a 1,828-square-foot space.

One of the concerns with collecting a plethora of cars is where to put them. Hangar Group is catering to this demand with exclusive car club facilities dedicated to storing cars of the well-heeled. Yes, owning a slot at the company's luxurious storage facility costs a fortune, starting at just under $800,000.

Robb Report caught up with Hangar Group founder and CEO Scott Cunningham, and he shared the origin of the idea. "We were in a friend's hangar in Florida, watching the sunset, and he didn't just have planes-he also had cars, motorcycles, and memorabilia on the walls, and couches and a bar and a TV."

It was at that moment that Cunningham decided to begin his project. He already has one inaugurated in Riviera Beach, Florida, with a second outlet built near Palm Beach International Airport. The first location - accommodating 41 individual units - was sold out within a year.

Owners can customize their spaces since the suites are purchased and not rented. While most suites appear to come with automotive-themed layouts, some opt for concepts that reference music and sports. It's like a second home already for residents.

The second storage facility will be five times bigger than the one in Riviera Beach, and 70 percent of the units have already been sold even before construction began. Apart from the exotics like the Porsche 911, residents can have a good time at the facility thanks to amenities such as golf and driving simulators, 150-inch TVs, a home theater, a billiard room, and boardrooms.

As mentioned earlier, securing a spot is not going to be cheap. A 1,828-square-foot space starts at $799,000, while the largest space measuring 3,736 square feet (with an 856-square-foot mezzanine) is sold for $1.6 million. Hangar Group will expand its network in Boca Raton, Miami, and the Hamptons.

This is, however, not the first for such facilities for the rich. There's the Circuit Florida in Florida as well, which is a private community that will feature 75 townhome-style units with dedicated garages. The community also has a 1.7-mile track designed by Bob Bernard who worked on SpeedVegas and the Porsche Experience Center in Atlanta.