According to Wired.com Autopia blog, The SubSonex is designed to be a modestly priced (as in $60,000 modest) private jet that fits in your garage.
Don't expect luxury jet comfort for that price, you have to put it together yourself and it only flies one person. The story reports that SubSonex has only done ground tests, but is expected to hit a cruising speed at over 240 mph and climb to 2,000 feet.
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Source: Autopia and Sonex
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