Jewelry Designer Cuts; Hedge Funder Buys

Suzanne Sheik, the jewelry designer and mother of singer Duncan Sheik, has dropped the price of her 7,000-square-foot townhouse at 132 East 62nd Street. The five-story building, which Sheik bought from the estate of late socialite Phyllis Cerf Wagner for $8.5 million in 2007 and first listed for $17.5 million last year, is now priced at $15.5 million. [Cityfile, Stribling]
• Hedge funder Anand Desai and his wife, Erica, have paid $12 million for a 17th-floor, 5,000-square-foot condo at 15 Madison Square North. [NYO]
Real estate developer Elizabeth Rad has put her four-bedroom loft at 166 Duane Street up for sale again. The 4,800-square-foot spread has been on and off the market since 2007, and is now listed for $8.4 million. [Cityfile, SE]
Harold Ford and his wife, Emily Threlkeld, are looking to unload their yellow-hued pad in the Flatiron district. The one-bedroom loft at 105 Fifth Avenue is listed with Kathy Sloane for $1.4 million. [Gawker, BHS]