Private Air New York

www.privateairny.com  |   49 Private Air  Summer 2026 Scarcity and Appreciation From an investment perspective, e Hangar occupies a unique position. e Palm Beach International Airport location has achieved the highest price-per-square-foot valuation in the United States for privately owned garage space, reflecting a combination of location, quality, scarcity, and demand. "Pricing in this category reflects what does not exist elsewhere," Cunningham explains. "Several factors drove that valuation. One is location. Palm Beach is among the most sought-after luxury real estate markets in the country. Another is the quality of the hangar itself." Scarcity remains central to the company's philosophy. "Each location is sized to support a community, not maximize hangar count," Cunningham says. "Once a location is sold out, it is sold out." at approach has already begun producing a noteworthy secondary market. "e hangars are fee-simple condominiums and can be resold," he says. "Most buyers purchase with no intention of selling, but on the rare occasion that resales do occur, they have consistently closed at substantially above the original purchase price." ose dynamics have become increasingly attractive as affluent buyers seek tangible assets supported by scarcity, location, and lifestyle utility. e Next Evolution of Wealth Following successful sellouts in Riviera Beach and Palm Beach, e Hangar's next chapter is already underway. e company's forthcoming Hamptons development will initially offer ownership on an invitation-only basis, followed by limited waitlist opportunities. Owners will enjoy reciprocal privileges across current and future Hangar locations, creating a growing network designed around the seasonal movement patterns of affluent collectors. "Many of our owners move between seasonal markets," Cunningham explains. "Additional locations in places they already spend time keep them within the same community wherever they are." e vision extends well beyond automotive enthusiasts alone. "Our owners are not exclusively automotive collectors," Cunningham says. "ey are storing and showcasing fine art, wine, memorabilia, and other assets. What unites these collections is not the asset type but the way owners want to interact with them." Traditional luxury real estate has long defined where wealth lives. Increasingly, however, affluent collectors are seeking environments designed around the assets, passions, and experiences that define how they live. As alternative assets continue to grow in prominence and experiential ownership reshapes luxury markets, collector real estate appears positioned to occupy a category all its own. As Cunningham observes, "e Hangar represents the parallel environment that has not previously existed at this caliber. It is where the collection lives, where the passion is expressed, and where the community forms." www.thehangargroup.com WEALTH

• Cover