NOT WHAT IT SEEMS: Don’t be fooled by the big Dior J’Adore perfume ad on the face of the construction site at 598 Madison Avenue, at the northwest corner of 57th Street. Dior’s parent, LVMH Moët Hennessy Louis Vuitton, has leased the entire building at an estimated $4 million a year, and apparently hasn’t determined which of its luxury brands will move in. It’s got 3,200 square feet on the ground floor, 3,600 on the second floor and 1,000 in the basement, not to mention the upper levels that would be great for offices. Some thought Dior men’s wear would get in, and one worker at the existing Dior store a few doors west on 57th Street thought Dior would relocate to the corner site. One sourcesaid there’s never been an announcement on merchandising the space, while a real estate executive said LVMH is ready to sublease the space. Decisions, decisions. FULL GALLOP: Horses and Argentinian men may get some serious competition at Bridgehampton Polo this Saturday. The diamond firm Kwiat, which created the 64-carat diamond shoes with Stuart Weitzman and the ornate, oversized diamond brooch worn by Sarah Jessica Parker in Sunday’s episode of "Sex and the City," will be a co-sponsor of the polo match. The company is setting up shop on the field with the diamond shoes, a brooch and lots of diamond jewelry.And for those exhausted from all the diamond glitter, luxury linen company Frette will display a bed covered with selections from its summer Bisanzio collection.JAGGER AND JOHN: Jade Jagger is set to make her musical debut in a one-time collaboration with Sir Elton John. Garrard, the British luxury brand where Jagger is creative director, bid $225,000 for an original EJ composition during a charity auction at Sir Elton’s White Tie and Tiara Ball in June. "It’s not going to be a corporate song," a Garrard spokeswoman said. "We did it to support the Elton John Aids Foundation charity." The prolific popster has written the music and Jagger the lyrics. The song will be performed for the first time on Sept. 12 — the kickoff of London’s fashion week — at a party to celebrate the launch of Garrard’s new Mayfair store.VROOM VROOM: Beauty and auto racing might seem like strange bedfellows, but don’t tell the throngs of motor heads who showed up to see Dale Earnhardt Jr. make a pit stop at Macy’s Herald Square Thursday. Hundreds of NASCAR devotees came to the public appearance to have their hats, jackets and bottles of Drakkar Noir signed by the high-speed heartthrob, who, as reported, has begun a long-term sponsorship by the European Designer Fragrance Division of L’Oréal USA, which markets the Guy Laroche fragrance. By Thursday, sales of Drakkar at the Herald Square Macy’s had reached an estimated $50,000 since the festivities were first advertised last Friday, according to sources.

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