An Asian financier calling himself “J. Lo” is reportedly looking to buy up luxe apartments in Manhattan’s premier buildings with haste. Lo, who is currently renting a $100,000-per-month condo at West 56th Street’s Park Imperial, counting neighbors like Daniel Craig, Sean “Diddy” Combs and Deepak Chopra, also recently signed a contract at the Park Laurel on West 63rd Street. He is reported to have paid nearly $28 million for the 7,758-square-foot spot that belonged to Israeli philanthropist Ephraim Gildor. Lo hasn’t made an offer yet on the $31 million penthouse he visited at Trump Park Avenue, but he did bid almost $40 million on Broadcast.com founder Todd Wagner’s apartment at the Time Warner Center, which, unfortunately for Lo, isn’t actually for sale. Wagner bought the 4,800-square-foot penthouse, once famously rented by Jay-Z, from real estate investor Michael Hirtenstein in 2007. Observers have noticed Lo’s black Cadillac Escalades idling outside his current rental, where he’s had shopping bags from Bergdorf Goodman delivered to his door. [Post, 1st item]

Contrary to expectations that prices would be cut significantly after
Labor Day, sellers of some of the city’s most expensive properties have
not deeply slashed their prices. Raphael De Niro just listed
philanthropist Ephraim Gildor’s Park Laurel duplex for $28 million,
only $3 million less than its previous asking price in early 2008. De
Niro said sellers are not desperate enough to make significant price
cuts. Lois and Georges de Menil’s townhouse at 120 East 70th Street is
also on the market for $28 million, down from $33 million. Brown Harris
Stevens’ Paula Del Nunzio, who is listing that townhouse, said sellers
often keep their prices high because they are aware that buyers want to
bargain — but some sellers are also just unrealistic. [more]