[quote]In the same way that George Clooney and Meryl Streep could be counted on to carry a picture, these brand-name architects, or “starchitects,” as they came to be known, helped to set a building apart and gave buyers another reason to want to live there.[/quote]
[twocol_one]In Other News
[twocol_one_last]The names on the marquees included Richard Meier, Enrique Norten, Robert A. M. Stern, Philip Johnson and Annabelle Selldorf, as well as designers focused on interiors, like Philippe Starck and Giorgio Armani. The boldface treatment worked, helping to push prices ever higher.[/twocol_one_last]
But you don’t need a subscription to Variety to know that star power sometimes dims. Now that the dust has settled and these buildings have had a few years to age and see some turnover, resale prices show mixed results. Although none of the starchitects have suffered enough to be considered box office poison, some buildings that had not sold out when the recession hit have had to offer hefty discounts. Others, while still commanding good prices relative to nearby buildings, are not holding their initial value.