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.

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