Michael Shvo Pursuing Celebs in Their House of Worship

It's a strange real-estate market lately, what with all the mortgage-industry-driven doomsday talk, but that's not stopping Über-condo marketer Michael Shvo from hawking his wares. He's set up a swag-stuffed (iPod speakers, anyone?) lounge backstage at the Fashion Week tents to entice celebrities and fashionistas to stop by, all the while heaping them with brochures about his newest project, the 57-story W New York-Downtown Hotel & Residences on Washington Street. (It's opening this fall.) The swank space, all dolled up in red and black by GRAFT, the celeb-friendly — Brad Pitt is a big client! — L.A.-based architecture firm, has had visits from rocker Gwen Stefani (twice!), Demi Moore, and Teri Hatcher. —Jhoanna Robledo