REAL ESTATE

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A problem arose when Macklowe's overheated broker didn't realize that in the space between Harry's luxurious apartments lurked a smaller two-bedroom place that had already been sold to someone else. "He's now negotiating to buy the owner's unit [which the unnamed killjoy bought for around $4 million] and is buying a similarly priced place for him elsewhere in the building," explains our astonished source.

According to brokers familiar with the Plaza renovation, there are at least two residences that will cost more than $50 million when the owners go to closing. And the Plaza, at least for the time being, holds the record for the price per square foot at $6,500.

"That's the highest I've heard of," said Jonathan Miller, of the city's Miller Samuel appraisers. "But it's not higher by much."

Elsewhere around the park, the owner of an apartment located on the top floors of the Pierre Hotel is still sticking to his $70 million asking price. Maybe financial guru Martin Zweig will finally get it after putting the co-op apartment on the market at that sky-high price about four years ago. The 8000-square-foot residence, featuring a 2300-square-foot ballroom, also comes with all the usual hotel services including twice daily maids and mints on the pillows—just don't steal the robes!

What is even more unusual in the Manhattan market today is that rentals are just as out of whack. Generally speaking, when the sales market is hot, the rental market is tame and vice-versa. But for the first time in a very long time, both markets are hitting on all cylinders. With a vacancy rate at under one percent (0.8 to be more precise), rents are soaring.

At the Time Warner Center, New England Patriots Quarterback Tom Brady decided to take his three-bedroom apartment off the sales market and rent it instead. Brady, who is now spending time in the downtown area with supermodel Gisele Buendchen, was asking $16.5 million for his midtown digs. But a hedge fund trader offered to rent his 74th floor pad for $60,000 a month.