PLAZA WATCH! Bear Stearns Chairman In for $25 M.

James Cayne, the recently resigned chief (but still chairman) of Bear Stearns, has bought a $25.8 million condo at the Plaza, according to city records.

It's been a rough year for Mr. Cayne, who left the embattled firm under a haze of recrimination following the collapse of two of its hedge funds that resulted in a $700 billion third quarter writedown in 2007 and a federal investigation. Perhaps his new 14th-floor pad will cheer Mr. Cayne up.