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♦ Hedge fund mogul and Obama mega-fundraiser James Torrey has chopped $2 million off the price of the duplex at 131 E. 66th St. that he and his wife listed just over one month ago. The 4,850-square-foot spread is now on the market for $12.5 million. [Cityfile, Corcoran]
♦ UBS exec Ramesh Singh and his wife Farida Khan are finally unloading their co-op at 860 Park Avenue. The four-bedroom apartment, which underwent a handful of price cuts since it was first listed for $13.4 million in 2007, was most recently on the market for $9.5 million before it went into contract last week. [Cityfile]
Tommy Hilfiger has taken his $50 million Plaza apartment off the market, and is now reportedly planning to move into the 6,000-square-foot duplex himself. [NYP]

♦ Chris Whittle, the founder of Edison Schools and Channel One, has put part of his 11-acre Georgica Pond estate in East Hampton on the market for $27 million. In addition to 3.7 acres of land, the listing also includes a four-bedroom guest house designed by Peter Marino. [WSJ, BHS]
♦ Arlene Farkas, the ex-wife of real estate and retailing heir Bruce Farkas, started marketing her duplex at the River House earlier this month after a state appeals court turned down her ex-husband's final appeal to retain ownership of the spread. The 14-room apartment is currently on the market for $15 million. [NYT, BHS]