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James Frey has cut $500,000 off the price of his condo at 505 Greenwich Street, less than a month after first listing the place. The four-bedroom spread, which Frey bought as two separate units and later combined, is now on the market for $4.5 million. [Curbed, Corcoran]
♦ Farid Naib, founder of the finance software company FNX Limited, paid $2.29 million for a seventh-floor loft at 288 West Street. [Cityfile]

♦ Not only did NASCAR chairman Brian France flip his condo at 15 Central Park West for $18.8 million last month, he also sold off the "staff studio" he owned in he building. The buyers, investor Gotham Makker and his wife Vicky, paid $1.2 million for the place. [NYT]
♦ Real estate investors Cortney and Robert Novogratz have dropped the price of their townhouse at 5 Centre Market Place. The couple paid just $1.512 million for it in 2004 and originally listed it for $18 million in April of this year. After taking it off the market in August, it's now can be yours for a mere $13.85 million. [NYO]