(Photo: Patrick McMullan)

Richard Meier thinks we’ll be stuck with an oversupply of new condos for a while. “I think that people who don’t have things under construction are probably reconsidering whether they’re going to go under construction, but if something’s under way, they’re not going to stop,” the architect said at a party for Vacheron Constantin watches at the IAC Building on October 22. His most recent New York building, On Prospect Park, is 60 percent sold, he said, but “the next 40 percent will go slowly.” What might speed up those sales? “Fortunately,” he said, “I’m just the architect.” And what will the market look like a year or two from now? “I think there will be a lot of empty apartments,” he said.

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• Archive: “Intelligencer”
• Articles by Jada Yuan
• Table of Contents: Nov 3, 2008 issue of New York | Subscribe!