♦ After listing his 2,900-square-foot condo at 505 Greenwich Street for $5 million in October and then lowering the price by $500,000 just weeks later, James Frey has chopped the price again. The four-bedroom pad is now listed for $3.995 million. [Cityfile, Corcoran]
♦ Sun Capital Partners managing director Gary Talarico and his wife, attorney Linda Filardi, paid $10 million for a six-bedroom duplex at 875 Park Avenue. [Real Deal]
♦ Grammy-winning producer Ric Wake's Cove Neck mansion, which was on the market for $6.5 million for the past year, was reclaimed by Bancorp Bank last week after it failed to attract any buyers at a public auction. [Newsday]