The Bronfmans Head to London, Tim Geithner Rents

Edgar Bronfman Jr. and wife Clarissa are putting down roots in London. The couple has picked up a "posh house" in Kensington and plan to relocate with their four kids by the end of the summer, although the Warner Music chairman/billionaire heir says he plans to divide his time between London and NYC. [NYP]
• Treasury Secretary Tim Geithner has taken $60,000 off the price of his Westchester home. The five-bedroom Tudor in Larchmont, which went on the market for $1.635 in March, has been reduced to $1.575 million. He's since rented out the house for $7,500 a month so he can "wait until the real estate market rebounds a bit." [Luxist, HL]
• Russian communications mogul Timur Artemiev, who co-founded the country's largest mobile phone retailer, has picked up a New York pied-à-terre. Artemiev paid $1.39 million for a two-bedroom condo at the Chelsea Stratus on West 24th Street. [Cityfile]

The Bronfmans Head to London, Tim Geithner Rents

• Builder Joe Farrell has decided to raise the price of his 11.5-acre Sandcastle estate in Bridgehampton. The 31,000-square-foot mansion at 612 Halsey Lane—which features a bowling alley, recording studio, disco, bar, rock-climbing wall, squash and racquetball courts, and movie theater/planetarium—went on the market for $50 million earlier this year. It's now priced at $59.5 million. It's also available for a two-week rental for $500,000, in case you're interested. [Newsday, FBC]
• Former Mets infielder Edgardo Alfonzo has taken even more off the price of his home in Little Neck. The five-bedroom, Mediterranean-style mansion, which was originally listed for $8 million in 2006, is now just $3.8 million. [Newsday, PDE]