• Kimora Lee Simmons is looking to unload a decidedly modest home she owns in East Hampton. The 2,300-square-foot home, which Kimora picked up for $690,000 in 2003, is currently listed for $800,000. Don't expect to find any evidence that the Queen of Bling has spent much time there: In addition to the much larger estate she owns nearby, she also has a $20 million mansion in Saddle River, NJ, which has been on the market since 2007. [Real Estalker, PDE]
• Retired tech exec Lawrence Mueller and his wife Mary Kay have dropped the price of their three-bedroom condo at 15 Central Park West five months after first listing it for $16.5 million. The 25th-floor condo, which the couple bought for $5.99 million in late '07, is now priced at $15.5 million. [Curbed, PDE]

• Nicolas Cage may have found a buyer for his 48th-floor apartment at the Olympic Tower on Fifth Avenue. Cage has reportedly received two offers on the 3,550-square-feet pad, which was most recently listed for $9.75 million. [NYP, BHS]
• Investment banker Tom Whalen and his wife Dana English have closed on the sale of their 8,000-square-foot townhouse at 34 West 10th Street. The 19th-century manse, which was rumored to be selling to an unidentified Texas banker for $15 million earlier this summer, sold for $15.4 million to an entity called Go Yard LLC. [Cityfile]
• Arvind and Shilpa Sanger have paid $11.98 million for a penthouse at 170 East End Avenue. Arvind, who founded Geosphere Capital in 2007, previously worked for Steve Cohen's Connecticut-based SAC Capital. [Cityfile]

Last week, Ezra Merkin, the disgraced financier who funneled a couple of billion to Bernie Madoff and has since been slapped with civil fraud charges, agreed to give up his prized collection of art as part of a deal with the attorney general's office. Like you, we found the news deeply troubling. Can you imagine what it must be like to spend years buying up one priceless Rothko painting after another, only to have Andrew Cuomo come along and run off them? Not fun! As always, though, we're here to help: We just sent a lovely Rothko poster to Merkin at his 740 Park Avenue duplex. Just because you aided and abetted the biggest crook in American history doesn't mean you should have to stare at bare walls all day!

• Got $75 million to spare? Edward Lee Cave says Courtney Sale Ross' massive duplex at 740 Park is still up for sale and he's willing to show the apartment to "qualified buyers." [NYO]
• Srinivas Modukuri, the former head of mortgage strategies at Lehman Brothers, paid $2.995 million for a three-bedroom apartment on the 10th floor of 74 Fifth Avenue. [Cityfile]
• Fashion stylist and V magazine editor-at-large Beat Bolliger paid $1.59 million for a two-bedroom apartment at 12 East 12th Street. [Cityfile]

• Fashion tycoon Kenneth Cole has managed to sell his penthouse at 101 West 79th Street, albeit for substantially less than the original asking price. The four-bedroom apartment, which was priced at $18.95 million and reduced to $16.95 million in December 2008, has sold for $12.5 million to an entity called Fundo Azul LLC. So who's behind this Fundo Azul? No clue, although if you know more, feel free to drop us a line and let us know. [Cityfile]
• Hotel owner Jeffrey Carlstead has listed the one-bedroom at 15 CPW that he bought for $2.54 million in August. It's now $4.6 million. [Cityfile, Corcoran]
• No 740 Park apartment for you! Both banker Peter Huang's apartment and Courtney Sale Ross' 32-room duplex have been taken off the market. [MGross]
• Ivan Lendl has gone into contract to sell his mansion in Goshen, Conn. The 43,000-square-foot home had been listed at $25 million. [NYP]
• Disgraced financier Alberto Vilar recently listed his 11-room co-op at 860 United Nations Plaza for $5.5 million. But it may be too late. It's scheduled to be sold at auction on March 11th. [Page Six, BHS]

It's been three months since we compiled a list of the 20 most expensive apartments for sale in Manhattan. So what's happened to them since then? Not surprisingly, most of them remain on the market, and several have been discounted substantially since they were first put up for sale. (Just one of the 20 sold successfully, an apartment at 176 Perry that went for 30 percent less than its initial asking price.) The grim market conditions haven't stopped several others from putting their exorbitant homes on the market. Since we put the list together, a 78th-floor penthouse at the Time Warner Center hit the market for $65 million and a $47.5 million listing at 15 CPW surfaced. But if you're interested in seeing what happened to the original 20—and get a glimpse for what's happening to the high-end real estate market as a whole—the results are below.

• Democratic fundraisers Carl Spielvogel and Barbaralee Diamonstein-Spielvogel sold their seventh-floor apartment at 720 Park to ex-Merrill Lynch banker Peter Kraus in December for $36.63 million. But it looks like they won't be moving far. The Spielvogels have now paid $8.98 million for a second-floor apartment in the same building. The couple bought their latest co-op from the estate of the late Cynthia Phipps, a horse breeder and philanthropist who died in 2007. [Cityfile]
• A four-bedroom duplex at 740 Park, which was first offered for $35 million by heirs to the late Randolph L. Speight, is now $26 million. [NYO, Sotheby's]
• Attorney and real estate investor Alan Schnurman has slashed the price of his 41-acre property in Sagaponack by 27 percent. Once on the market for $64.5 million, it's now down to $47 million. [Newsday, Corcoran]

Yesterday we shared with you New York City's most expensive apartment rentals, just in case you haven't been killed in the market these past few weeks (or maybe you won the Powerball a few weeks ago?) and have been looking to upgrade to a fantastic apartment without making a long-term commitment. Today we've rounded up the 20 most expensive apartments for sale in the city. Pick up an overpriced co-op on Park Avenue for $30 million and you'll sleep better at night knowing you played a key role in boosting the city's ailing economy! (At the very least, you'll know you paid for a few years of private school for some lucky real estate broker.) One note: This list only includes "official" listings, which means apartments that are only rumored to be for sale (such as Richard Ullman's $75 million penthouse at 15 CPW or Courtney Sale Ross' duplex at 740 Park) aren't represented. But there's plenty of overpriced property to choose from regardless!

Real estate prices may be headed south, but that isn't stopping Courtney Sale Ross, the widow of late media mogul Steve Ross, from putting one of the most expensive apartments in Manhattan on the market. Max Abelson of the Observer reports that Edward Lee Cave is now "quietly taking offers" on Ross' 32-room duplex at 740 Park Avenue. The price? Over $60 million. [NYO]

Society reporter David Patrick Columbia headed over to David and Danielle Ganek's "sprawling apartment" yesterday, which just so happens to be the abode at 740 Park where Jacqueline Bouvier was raised and which the hedge fund titan and contemporary art collector purchased for $19 million a few years back. Columbia was kind enough to post some pictures, too. In the background: A rather creepy mural by Piotr Uklanski of actors portraying Nazis. How, uh, charming. [NYSD]

• Jamie-Lynn Sigler of Sopranos fame has sold her two-bedroom loft at 25 Leonard Street for $2.9 million. [Cityfile]

Investment banker Peter Huang has placed his apartment at 740 Park on the market for $38 million, Michael Gross reveals today. The duplex (4-5D) features a private elevator landing, wood burning fireplaces, grand staircase, and separate set of stairs for the staff, just so you don't have to worry about tripping over Guadalupe in the middle of the night when you head downstairs on your ritual Oreo run. More photos below.

Page Six Magazine published a handy little charticle on some of the most powerful co-op boards in town and the board members who stand between you and that $20 million co-op.

Click to enlarge and hate your life.