Like something straight out of the movies, here comes the Terrafugia Transition ready to take off in a neighborhood near you. Well, almost — this street-legal flying vehicle hasn’t hit the market yet, but it’s getting a lot closer. The long-awaited Transition hit a milestone last week, when the production prototype of its second-generation model successfully completed its first flight at Plattsburgh International Airport in New York.

While it’s not quite a Jetsons-style jetcar or a Batmobile morphing into a plane right there on the highway, it’s still an extremely impressive aircraft. The compact, two-seater — which is strutting its stuff at New York’s Auto Show this week — is the epitome of personal aviation: It can drive on roads and highways, be parked in a garage, and run on unleaded gas. To pilot it, you just need to pass a test and log 20 hours of flight time.

Of course, all that engineering doesn’t come cheap. When it kicks off later this year, pre-orders will start at $279,000. But hey, what’s quarter of a million dollars to pilot a piece of the future?

For more on the Transition, check out Terrafugia’s website here.