The Real Deal New York

Stuart ElliottFrom the March issue: With more resilience than one might have anticipated, New York City developers are still thinking outside the glass box. Pundits said the recession was supposed to mean the death of good architecture in Manhattan, as developers sought to do more “value engineering” on their projects. Fancy design was expected to be the first thing to be eliminated from the budget. But recent projects — led by 8 Spruce Street, Manhattan’s new tallest residential tower — show that’s not the case. Not only vital for New York’s competitiveness among world cities, this sort of forward-thinking architecture is great news for the real estate world — and for real estate values. [more]