Wealthy collectors are buying condos just for their cars

Car-collector “garage condos” are emerging across the U.S. as owners look for more space for vehicles and related memorabilia. Some buyers are reportedly paying more than $1 million to store collections off-site, and for certain collectors the sites also deliver a social “clubhouse” feel with other enthusiasts. Scott Cunningham opened The Hangar Group in 2019 after downsizing from a four-car garage to a 1.5-car setup; his units in Palm Beach, Florida sold at about $800 per square foot, ranging from 1,100 to 4,500 square feet. He now has two locations in South Florida and is expanding to the Hamptons. Rusty Brown’s The Stacks Auto Lofts in Henderson, Nevada—about 20 minutes from Las Vegas—planned to open by August; its 29 units have already sold most, with the priciest just under $1.6 million.