The Afternoon Wrap: Thursday

Thu, 01 Mar 2007 17:59:21 -0400

According to a tipster, America's most Scientological couple, Katie Holmes and Tom Cruise, has bought a Dakota apartment for around $20 million. It's a classy co-op, though not as hip as Mr. Cruise's former downtown digs. [Gawker]

"Pricy penthouse" stories are the best kind of real estate porn. Sexy "high-end penthouse apartments are in demand" (though apparently the Dakota's top-tier co-ops aren't that grand). Sadly, Forbes' list omits the New Museum penthouse, which has a new 80s pop star owner.[Forbes]

Wall Street's woes won't burst our real estate bubble, despite the Dow's 416-point plunge. In fact, the housing market is a relatively safe bet for jittery investors--especially when TomKat is moving to town. [Real Deal]

The NYC Department of Cultural Affairs HQ at 31 Chambers Street got a new high-tech makeover. But the "ornamental plaster, marble wainscot [and] fireplaces are still there", lucky for the wainscot-loving paper-pushers. [Interior Design]

- Max Abelson

Observer » The Afternoon Wrap: Thursday

The Afternoon Wrap: Thursday