• It looks like Richard Gere has finally unloaded his spread at Julian Schnabel's Palazzo Chupi. The 3.500-square-foot space, which Gere bought for $13 million in 2007 and listed for $17.995 million in 2008, has reportedly sold for $12 million to an unidentified buyer. [NYT]
• John Novogratz, a senior managing director at Millenium Partners and the brother of fellow financier Michael Novogratz, has paid $3.44 million for a 4,400-square-foot apartment at 39 Vestry Street. [Cityfile]
• The penthouse duplex at 1020 Fifth has undergone a $5 million price cut. The 7,000-square-foot apartment, which is owned by heirs to the Kress retail fortune and first went on the market for $46.5 million in 2008, was reduced to $39 million in January. It's now listed for $34 million. [NYT, Corcoran]

• The 7,000-square-foot penthouse duplex at 1020 Fifth Avenue that's been on and off the market in recent years and was most recently priced at $46.5 million, has undergone a price cut. The five-bedroom spread, owned by heirs to the Kress retail fortune, is now listed at $39 million. [Cityfile, Corcoran]
• Wesley Vultaggio, who works at AriZona, the beverage company his father co-founded, has paid $6 million for a apartment at 47 Mercer Street. [Cityfile]
• Umberto Arpaia, the chef/owner of Cellini in Midtown and brother of fellow restaurateur Donatella Arpaia, paid $4.85 million for an 18-foot-wide townhouse at 242 East 68th Street. [Cityfile]