10/19/2007 at 09:00 AM EDT
Richard Gere is shelling out the green to move into artist Julian Schnabel's big red condominium building in New York's West Village. Gere's exact purchase price for the apartment was undisclosed, says the Wall Street Journal
, but a similar unit in the building went for $15.5 million last month.
In building his colorful nine-story addition above what used to be a horse stable, Schnabel, the artist and film director (most recently of The Diving Bell and the Butterfly
), has ruffled some feathers, with some neighbors derisively calling the structure the "pink building." —Tim Nudd