Joe Gregory, the cash-starved former president of Lehman Brothers, hasn't had much luck selling his oceanfront house in Bridgehampton. (He cut the price from $32 million to $27.9 million a few months back, although that hasn't helped any, apparently.) Time to move on to Plan B, it seems. Gregory is now asking a bankruptcy judge to pay him the $232,999.548.71 he says he's owed in deferred compensation "in the form of performance- and restricted-stock grants." Now that's rich, isn't it? He helped run the bank into the ground and now he'd like to get paid for his "performance"? We're not quite sure how Gregory came up with this $233 million figure, but we're inclined to think the judge should cut him a check for $19.99. That way Gregory can go to Staples and buy himself a Brother P-Touch 80 so when he makes outrageous financial demands in the future, he'll at least be able to affix a profession-looking label to the envelope. Just because you had a hand in the biggest bankruptcy in U.S. history and your reputation is now ruined doesn't mean you can get sloppy! Gregory's handwritten submission to the court below.

The Hamptons real estate market really sucks at the moment, as you may have heard. According to stats guru Jonathan Miller, the number of unsold homes on the East End rose 15 percent during the first quarter while the median price of a house dropped 23.5 percent compared to a year earlier. One brokerage firm reports that sales of Hamptons homes have plunged by 67 percent during the first three months of 2009. But Michael Daly, the founder of North Haven's True North Realty, is keeping it all in perspective:

This is normally the time of year when people start making plans for the summer and lock in their rentals in the Hamptons. Not this year. Last month, The Real Deal suggested the number of rental transactions was down by as much as 80 to 90 percent compared to last year at this time; today the Post offers up examples of prospective renters offering owners as little as half the official asking price. Things may very well get worse as nervous renters wait to see if prices fall further, and owners become increasingly desperate to take the first real offer that comes their way. In other words, don't be surprised if six recent college grads end up turning ex-Lehman COO Joe Gregory's $32 million Bridgehampton home into a booze-soaked share house.

You're going to be shocked to hear this, but it turns out lots of Wall Streeters are looking to sell their lavish, eight-figure homes, a process that isn't quite so easy given the state of the economy. Today's Wall Street Journal has details on a collection of former high-flyers at Lehman and AIG who are now (desperately) looking for offers. But not everyone is moving out because they're suffering! It's unlikely any one in New York is making more money right now than John Paulson, the hedge fund mogul who bet against the housing market and won big. (He'll probably continue to rake it in: Just today he announced plans to launch a new distressed investment fund.) Just in case you're still sitting pretty—or you're playing the lottery this weekend and you're an optimist by nature—you'll find details on four of the homes after the jump.

Just in case you had any doubt the real estate market in the Hamptons is in the dumps, there's new data today to support the claim. The average home sale price fell 23.3 percent in the third quarter compared to the same period last year, and the number of sales declined by 28.8 percent. Here's a way to boost the Hamptons real estate market in these troubled times: Why not offer up tours of the homes of disgraced Wall Streeters? We'd gladly hand over a ten-dollar bill for a guided tour of ex-Lehman COO Joe Gregory's $32 million Bridgehampton home. [Real Deal]

"Which wife of a top Lehman executive went on a $132,000 shopping spree at the Americana Manhasset Mall the day after her hubby filed for bankruptcy?" Page Six asked today. It didn't take very long for commenters over at Dealbreaker to come to a conclusion. After eliminating Dick Fuld's wife Kathy (who spends most of her time in Greenwich and wouldn't be caught dead shopping at a Long Island mall), the crowd seemed to settle on Niki Gregory, the wife of axed Lehman president Joe Gregory, who has a home in nearby Lloyd Harbor and was rumored to be filing for personal bankruptcy in September. [Dealbreaker]

♦ Democratic fundraisers Carl Spielvogel and Barbaralee Diamonstein-Spielvogel are reportedly in contract to sell their apartment at 720 Park for $37 million, or $17 million more than they paid for the place just two years ago. [NYO]
♦ Jeffrey Walker, the chairman of CCMP Capital Advisors, has purchased a second-floor unit at 15CPW for $3.6 million. It'll go along with the 14th-floor spread they bought late last year for $21 million. [Cityfile]
♦ Former Lehman president and COO Joe Gregory has sold his two-bedroom apartment at 610 Park for $4.4 million, or $50,000 less than the asking price. Now he just has to find a buyer for his Bridgehampton mansion. [NYO]

Joe Gregory, the former president of Lehman Brothers and Dick Fuld's right-hand man until he was ousted in June, has put his Bridgehampton manse on the market. For $32.5 million, you'll get a 9,500-square-foot house with 8 bedrooms, 8.5 bathrooms and magnificent views of the Atlantic Ocean. [Real Estalker]