From left: Elliman's Melanie Lazenby and Dina Lewis and the interior of the Plaza unit

The four-bedroom, six-bath Astor Suite at the Plaza Hotel & Residences at 768 Fifth Avenue, which has held the title of the city’s priciest rental unit for the past five months, has dropped its price by a massive $40,000 a month, according to data from Streeteasy.com. The unit, which was placed on the market in December by Melanie Lazenby and Dina Lewis of Prudential Douglas Elliman asking $165,000 a month, is now listed at $125,000 a month. [more]

The Plaza

The president of Kazakhstan’s brother, Bolat Nazarbayev, is alleging his ex-wife and stepson conspired to steal his $20 million condominium at the Plaza in a lawsuit filed in the Manhattan Supreme Court, the New York Post reported. Nazarbayev claims that his then-wife, Maria Nazarbayeva, and stepson, Daniyar, convinced him to give them power of attorney to complete the apartment purchase in 2008. Rather than putting the home solely in Bolat’s name as instructed, the pair added Maria’s name to the property, according to court documents. [more]

From the November issue: That New York City draws property hunters from around the world is no surprise.

In fact, 15 percent of buyers in the city today are international, according to Elizabeth Stribling, president of Stribling & Associates.

But just how big a force are foreign nationals in the highest reaches of the residential market? To find out, The Real Deal combed through the priciest deals of this year so far, relying on data provided by listings aggregator StreetEasy, to find out which of the biggest transactions involved international buyers and sellers. Of the top 20 deals, six had one or more parties from outside the U.S., according to property records, press reports and interviews. [more]

Kelsey Grammer and the Bridgehampton home he recently sold

Former “Fraiser” star and newlywed Kelsey Grammer has found a buyer for his 7,500-square-foot Bridgehampton mansion, according to the New York Post. The undisclosed buyer paid the property’s full $9.95 million asking price. Although this recent property sale leaves Grammer without a Hamptons hideaway for the time being, the actor said he’s considering buying another East End home in the future. As for rumors that Grammer was planning to buy a Plaza pad? Totally false, said Grammer, who bought a $7.52 million, 3,000-square-foot apartment in Jean Nouvel’s 100 11th Avenue condominium last November. [more]

In the video above about the country’s richest celebrities, HLN Showbiz Tonight looked at one of the places those bigwigs spend their money — New York City real estate. Sabrina Kleier Morgenstern, an executive vice president at Gumley Haft Kleier, said there are at least three celebs who are interested in New York City real estate — Nicole Kidman (who recently bought a fourth-floor unit at 200 11th Avenue for $9.6M), newly-hitched Kelsey Grammer (who along with his new wife, Kayte Walsh, checked out a $9.9 million Plaza condo) and Jennifer Aniston (who is close to a deal on a West Village penthouse).

One of the first condo buyers at the Plaza Hotel has just spent $11 million to double his space with a second, three-bedroom apartment overlooking Central Park, the Wall Street Journal reported. The buyer, Giuseppe De’Longhi, chairman of Italian appliance company De’Longhi SpA, now has more than 4,500 square feet at the Plaza, which he plans to combine into a 15th- and 16th-floor duplex. Brokers said the purchase — at a 5 percent discount off of the unit’s 2007 purchase price — represents a strengthening in both sales and prices at the storied conversion, which struggled to find and keep buyers and to compete with neighbor 15 Central Park West during the downturn. Of the 181 original apartments at the Plaza, 23 are currently on the market, down from 30 one year ago. Four are in contract, including the one next door to De’Longhi’s new pad. Originally listed for $18 million, its price was ultimately cut to $13.9 million before it found a buyer. [WSJ]

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Jones Lang LaSalle has poached the star Cushman & Wakefield sales team that has brokered $20 billion worth of deals over the past decade, including the sale of 666 Fifth Avenue and the Plaza Hotel, according to Crain’s. The foursome — Richard Baxter, Jon Caplan, Ron Cohen and Scott Latham — will lead JLL’s New York City capital markets team as part of the firm’s recent efforts to build up its talent and services. [more]

From left, Arthur has shuttered and today is Demel’s last day, both at the Shops at the Plaza.

When the Viennese bakery Demel closes shop tonight for the last time in the Plaza Retail Collection stores, it will be the fourth retailer in about a month to abandon the troubled below-ground concourse. Demel, which is embroiled in a lawsuit with the owner of the Plaza Hotel, Elad Properties, will serve its last chocolate cake and latte tonight, a lawyer for the company said, and move out of the building at 768 Fifth Avenue over the next few days. A new location has not yet been identified, the attorney said. The retail space at the Plaza has been challenged with lawsuits and vacancies since the iconic Plaza Hotel reopened in 2008 following a $400 million renovation, with tenants and brokers complaining of poor property management and the lack of a coherent marketing plan. [more]

From left: Pamela Liebman of the Corcoran Group and Dolly Lenz of Prudential Douglas Elliman

Two new additions have been announced for The Real Deal’s fifth annual forum, “Distressed Opportunities: Taking advantage of distress and searching for a real estate recovery.” Dolly Lenz, vice chairman of Prudential Douglas Elliman, and Pamela Liebman, president and CEO of the Corcoran Group, will join the all-star panel of real estate executives, analysts and economists. Other panelists include economist Nouriel Roubini, co-founder and chairman of RGE Monitor and NYU professor of economics; Coney Island developer Joseph Sitt, CEO of Thor Equities; Plaza developer Miki Naftali, president and CEO of the Elad Group, and Mark Zandi, chief economist at Moody’s Economy.com. The event, to be held Oct. 14 at Alice Tully Hall, Lincoln Center, will be moderated by Brian Sullivan, an anchor at Fox Business News. The forum will kick off at 3 p.m. with a networking and exhibition period, followed by the main event at 6:30 p.m. More panelists will be announced. Seating is limited. Tickets cost $80 and can be purchased by clicking here or calling Centercharge at (212) 721-6500. TRD [more]

The Manhattan home to see the biggest price cut today is unit 608 at the plaza, a one-bedroom, one-and-a-half-bathroom condominium, according to Streeteasy.com. The 782-square-foot space was reduced by $125,000, to $2.1 million from $2.225 million, marking a nearly 6 percent price reduction. Listed by the Corcoran Group, the One Central Park South unit features Plaza collection appliances and a garden view. The unit has been on the market since November 2008, undergoing three prior price reductions before the current cut.