• Frank Cassou—the general counsel and executive VP of NextWave Wireless who found himself in the hot seat when shares of the company plummeted and a wave of shareholder lawsuits followed—has gone into contract to sell his 18-foot-wide townhouse at 57 East 78th Street. The 4,600-square-foot manse, which he and his wife Gabrielle bought for $5.45 million in 2003, has been on the market for $15 million since February. [Cityfile, Sotheby's]
• A 2,890-square-foot penthouse at 285 Lafayette Street, which was acquired in 1999 by a trust in the names of Johnson & Johnson heirs Joyce Johnson and John Johnson III, has taken a $2 million haircut. The three-bedroom apartment, which is located next door to a larger penthouse that Ian Schrager is currently selling, is now priced at $10 million. [Cityfile, Real Deal, BHS]