Mark Ellwood wrote about the hottest thing in New York real estate: driveways.

• If a luxury building wants to attract top dollar in the Big Apple, then they’re expected to have roomy driveways for their residents.
• They’re popular with those who value their privacy – the driveways are usually walled off in a way that prevents the paparazzi from snooping around.
• Over-anxious parents also talk about the comfort they get from being able to load their kids into vehicles on a private driveway, rather than a side street where cars go whizzing by.
• In an increasingly siloed world a driveway gives residents the opportunity to actually talk to each other and maybe build a community.
• But the biggest reason for the interest in driveways might just be that they’re status symbols. Property values in Manhattan are so high that having a wide open barely utilized space is a sign of wealth and power.

Read more at Bloomberg.