The Real Deal New York

From the February issue: At the 20th century’s close, if a city had cutting-edge architecture, it could reliably be found at museums, concert halls or on campuses, with the occasional high-concept courthouse or office tower. In the last five years in New York, though, that situation appears to have flip-flopped; here, apartment buildings are increasingly leading the artistic charge, offering à la mode styles from the world’s top design talents. To be sure, many blocks are still sprouting generic boxes. But developers seem increasingly willing to shell out for a skyline-arresting structure, realizing that in a market where tastes are more sophisticated, artfulness can translate into wider margins.