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"Experience in most countries shows that whenever competition is introduced, it generates buzz and increases market volumes all round," he said.

"Does it mean that there was no demand in tier-three cities? Of course not. It was because we carmakers did not meet their demand in a better way. I think there is growth potential, huge potential," said Ye, at the annual China Automotive Bluebook Forum organized by the Auto Business Review magazine.

"Establishing more cooperative relationships with municipal governments all over the world will be our next move," Li said. "We aim to operate in 200 cities by the end of the year."

"Enough," New York City Council Speaker Corey Johnson tweeted after the sale was announced. "It's time for a pied-à-terre tax. We should tax luxury non-primary residences like this one likely will be."

"Different programmatic elements are distributed vertically along the two ramps and are linked with bridges. The 'endless' ramps weave and meander through the building and gradually rise from the ground floor," he adds.