I have the older version of the Espresso and I just keep it folded in half with the handlebars and seat pretty much all the way down but still on. The pedals fold too and I suppose they could come off but they don't really take up that much space in relation to the spatial cost of the bike overall.

It appears that the handlebars on the new Espresso still come off instead of folding, though I don't know whether an Allen key is necessary. You can see a picture here: http://bklynbikes.com/product/featur...5334-1-605.htm