Not understanding the market correctly - Seattle

I could have told them that. What you get when an ont-of-state developer puts up a luxury building.
From The Seattle Times:

A tower of luxury condos with almost no parking? This experiment seems to be failing
Seattleites want to live more like Manhattanites.

Or at least, that was the gamble made by developers of The Emerald, a 40-story luxury condominium near Pike Place Market, when they decided to include fewer parking stalls than any comparable new residential tower in the city.

But it looks like even Teslas on demand and the thrill of sharing an address with the priciest listing on the waterfront aren’t enough to prompt potential buyers of Seattle’s luxury condominiums to give up their cars.

The relative dearth of parking at The Emerald has been jeopardizing sales there, local condo brokers say.

A mere 62 parking stalls will serve the 40-story building’s 262 residences, the lowest stalls-per-unit ratio of any new residential tower downtown. Coincidentally or not, The Emerald has attracted fewer preopening buyers than Seattle’s average under-construction condo.

One of the draws of Seattle is that there is so much to do within an hour or two drive from the city. Most of these sites are not served by public transportation. Manhattan does not have the glorious outdoors on its doorstep so people moving there are more into the immersive urban-only experience. Not so with Seattle as this local boy says:

“Any developer in the last two years who bought into the idea that parking wasn’t important missed the mark,” said Windermere broker Jeff Reynolds, who focuses on the Seattle condo market. 

Yeah - anyone who comes in from the outside (the developer in this case is based in Hong Kong - another Manhattan). One of the primary factors for success in business is the ability to "read" your customer base and understand THEIR needs and desires. Just because your ideas have worked in other large cities does not mean that they will work here.

Got to love Capitalism and Adam Smith's idea of the invisible hand. Works every time. Can not say the same for top-down decision making, centralized planning and the other accouterments of socialized government.