Two reports from Curbed Hampton's in New York. "Former talk show host and television personality Dick Cavett has reduced the price of his iconic oceanfront Montauk property. After the recent price cut, the estate is now listed for $33.95 million. The nearly 20-acre property came on the market in June of 2017 for $62 million before dropping the price down to $48.5 million in August of 2018. This week, $14.55 million was cut from the asking price, and it’s come down more than $28 million in total since Cavett listed the property a year and a half ago."

"After two and a half years on the market and several multimillion-dollar price cuts, the bayfront estate at 64 Holly Lane in Water Mill is now $9 million cheaper than the original $24.75 million asking price. The listing is currently on the market for $15.75 million."

From The Real Deal. "It’s rare to see private equity hotshots take one on the chin, but one former KKR executive appears to have suffered a loss on the sale of his full-floor Soho condo. An LLC that lists Jonathan and Claire Ziegler Smidt as members sold unit 6A at 10 Sullivan Street for about $10.3 million, according to a public record filed with the Department of Finance. The Smidts picked up the 10 Sullivan Street unit in 2016 for about $10.6 million, according to a public filing."

From Real Estate Weekly. "December apartment vacancy rates continued to climb, despite landlord efforts to tempt end-of-year renters. According to Citi Habitats’ year-end market report, the Manhattan vacancy rate rose to the highest level in nine months in December."

"The brokerage said the rise in vacancy is also due to continued price-sensitivity by apartment seekers. 'In December, many property owners in both Manhattan and Brooklyn lowered rents slightly – in an attempt to spur activity during the traditionally slow holiday season,' said Citi Habitats president Gary Malin."

"'Despite these adjustments, the vacancy rate continued to climb, illustrating the ongoing disconnect between the rents that landlords want to achieve and the pricing tenants are willing to pay,' he said."

"However, Malin believes there are great values in today’s market for apartment seekers — if they are willing to explore new neighborhoods and building types. 'Now more than ever, it pays to keep an open mind,' he added."