Francesco Galesi

• After the Duke Semans mansion entered the market last summer, several other pricey properties came on with a $50 million asking price, including this one. Now, former WorldCom director Francesco Galesi is cutting the price of his River House co-op down to $39 million. "Baronial Grandeur" aside, isn't it worth it to share the neighborhood with Henry Kissinger? (New York Post)
• When Charles Grodin went before the board for his Riverside Drive apartment, they never even brought up his co-op bashing play. (New York Times)
• In the past year, two grand spreads have moved at 998 Fifth Avenue--Manhattan's first luxury apartment building. However, one more remains: Anne Slater's "classic fourteen." Check out the slideshow! (New York)
• Although this was posted a couple days ago, considering that The Observer has reported previously on Russell and Kimora Lee Simmons' difficulties selling their Liberty Street spread, we couldn't resist. Now, it remains to be seen where all these properties will end up after the divorce. (A Socialite's Life)

- Michael Calderone

With two $50 million mansions currently on the market, here comes the $50 million co-op, according to the New York Times. No stranger to high-end deals, owner Francesco Galesi sold Calvin Klein a $29 million beach house a few years ago. Kelsey Grammer purchased a new house in Bridgehampton, according to the New York Post. And, like many celebrities before her, Sarah Ferguson is heading to One Beacon Court. New York’s cover story looks at home design throughout the city. Also, there are photos of Charlie Rose’s desk, Martha Stewart’s exercise bike, and more. Is there really any more to say about CBGB’s? Well, if you didn’t want to save CBGB’s before, check out the bathroom?  read more »