Wall Art Chair

The Wall Art Chair by Dror Benshetrit converts from an art installation to a functional piece of furniture.  

While the chair looks like it has stability issues, the product is great for a small apartment or bachelor pad that needs a few extra seats for impromptu guests.

Source: via Yankodesign

Matroshka Small Space Solution

Inspired by the Russian dolls of the same name, the Matroshka is a compact living concept aiming to maximize quality of life and storage space.  Its furniture is multifunctional, nesting within each other in many different ways.

The Matroshka at its most compact form, maximizing floor space:

The area under the red/orange pillows and the area underneath the purple pillow can be independently pulled or retracted under the working area.  Pulling the right side yields the assembly below.

The left side houses a table with four stools:

This table can be pulled out and placed in the middle of the couch to be used as a coffee table.

The table's height can also be adjusted.  Combining this with the stools can create a functional dining area for four.  Take note of the steps at the left side, which again double as storage space.

This picture shows another configuration, created by pulling both sides of the "couch" to its maximum length.  I have no idea where the seat on the right side of the picture came from.

And finally, an extra rolled-up cushion can transform the couch into a single-person bed. (or two really skinny, silent sleepers)

The bed cushion, pillows, and most of the living room items can be stored in the seats, which double as storage boxes:

The "nested doll" concept permeates every part of the design.  Most, if not all of the furniture is hollow, and even the working area shelf/divider exhibits a honeycomb structure:

While the place looks like it's be terribly hard to clean, the design looks feasible, cost-effective and comfortable enough to pitch to small-space condominium construction.

Source: Matroshka

KEWB Multifunctional Furniture

The Design of KEWB Multifunctional furniture allows it, with only a few simple moves, to change into many different forms, including, but not limited to the ones shown below.

1. Compact Mode - Packing the entire KEWB furniture into the smallest space possible.

2. Chair and table - With three different recliner positions.

3. Recliner and table - Again with three different recliner positions.

4. Bed + Side table

5. TV Shelf + side table + pouffe / cushions

5. Layered shelf + pouffe / cushions

Furthermore, having multiple copies of KEWB allows the user more combinations of furniture, such as double beds.

Source: KEWB