The real estate market really is in a slump, even for giant pink buildings in the West Village owned by artist Julian Schnabel! He's cut the asking price for one of the Palazzo Chupi duplexes, from $32 million to $29.5 million. (Actor Richard Gere only paid $12 mil for his Palazzo Chupi apartment, which he sold for $18 mil last year.) [WSJ]