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• Ralph Cioffi, the former Bear Stearns hedge fund manager who will stand trial this fall for securities fraud and conspiracy in connection with the collapse of the fund, has gone into contract to sell his 7,000-square-foot home in Southampton. The estate had been listed most recently for $11.875 million. Given Cioffi's desperate circumstances, it's expected that the final price will be below the $10.7 million that Cioffi paid for the home in 2007. [WSJ, Sotheby's]
• The couple who paid $9 million for hedge fund manager James Torrey's East 66th Street duplex in April, former Merrill Lynch exec John Heimann and his wife Maria-Cristina Anzola, have sold their old apartment at 141 East 72nd Street. The four-bedroom co-op was purchased by Ada Zambetti, the widow of Stella D'Oro CEO Felice Zambetti, for $5.625 million. [Cityfile]
• Billionaire pharmaceutical mogul Michael Jaharis has paid $6.7 million for a 3,335-square-foot apartment at 1049 Fifth Avenue. [NYO]