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Edgar Bronfman Jr. has closed on the sale of his 8,000-square-foot home in Amagansett, which he originally purchased for $12.5 million in 2005 and listed for $15.8 million in 2006. The final sale price was just $12.67 million, which means after adjusting for taxes and inflation, Bronfman actually took a $1 million loss on the property. Photos of the home are here. [Page Six]
Albert Hammond Jr. has reportedly gone into contract to sell his 1,200-square-foot co-op at 141 East 3rd Street, which he picked up for $770,000 in 2005 and put on the market for $1.199 million back in August. [NYM]
♦ Lisa Kerkorian, a former tennis pro and the ex-wife of billionaire Kirk Kerkorian, has lowered the price of her Bridgehampton home. After more than a year on the market, it's been reduced from $12.7 million down to $7.995 million. [Newsday]