Today's home, a classic historic Sag Harbor mansion has popped back on and off the market always at an increasing price. The NY Post reported back in 2006 that Hamptons broker Tara Newman had sold it three times starting at $995,000 in 1989 and going all the way up to a record $6.85 million in 2006.

The home in question is known as the Hannibal French House, an Italianate residence on Main Street which was built in 1875 and designed by Stanford White's mentor, Minard Lefevre. This beautiful home has seven bedrooms and its Gilded Age gorgeousness includes a ballroom with original fleur-de-lis molding and nine fireplaces. The grounds are graced with a boxwood garden and an elliptical pool. In its long history the home has served as a rest home for nuns, a restaurant and the vacation home of Thomas Edison's son, Charles Edison, who was governor of New Jersey. The home is was listed at $7.5 million a few weeks ago but is already down to $5.995 million.

Everyone knows that Manhattan empties out on sultry weekends in July and August, when the in-crowd flees to the cooler precincts of the Hamptons. With that in mind, Felidia, the flagship restaurant of celebrity chef Lidia Bastianich, is offering a discounted tasting menu on Friday evenings this summer.

The choices presented on the four-part menu at the elegant brownstone restaurant on East 58th Street aren't exactly steals, but given the food's exquisiteness and the fact that on a typical night there the tab can easily approach $200 a head, they're worth digging into. For $21, you can choose a sampling of three assaggini (or first courses), including veal semi-carpaccio with celery and Grana Padano cheese. There are also three "pastas on a fork"--long strands like tagliatelle that can be twirled--served as a tasting for the same price, or a la carte ($10–$18). Just be sure to save room the dish Felidia is most famous for: cacio e pere, a fresh pear and pecorino–filled ravioli. It's so delicious, order it a la carte ($10) rather than in a tasting with two other "classics" of the house. Accompanying the menu is a special wine list composed of bottles priced at $30 and under.

Reservations are required. Call (212) 758-1479 or visit www.felidia-nyc.com. Cin Cin!

Cigar Aficionado readers know that there are some great lounges in Manhattan, though I hope they didn't suffer through that absurd video shot to accompany the article. The article did hit the major attractions, but there are some other hidden gems that only the devout locals know about. If you're looking to sit down and enjoy a cigar in the city, you have plenty of choices – take advantage of them!

Even with the smoking ban, there are more cigar shops and lounges than even most New Yorkers realize. In addition to the major stores like De La Concha and Davidoff Madison Avenue, boutique hand-rollers dot the city, and they are worth a visit from time to time.

So, the next time you set out for the quintessential Manhattan smoke, mix it up. Hit the major shops, but also stop by the places that are off the beaten path. You'll enjoy the experience.

Just how much is relatively undeveloped land in the Hamptons worth? We've seen the Tyndal Point property on the market for several years. The 55-acre property first hit the market in 2007 for an astounding $80 million. Ah those were heady days. Newsday's Real LI reports that the property, which was priced at $75 million last year, is now down to just $49.9 million. Real LI reports that Scott Strough of Strough Associates says that since the price reduction he's had major interest from a variety of sources.

The land, which has 3,000 square feet of beachfront, can be subdivided into three estate parcels of two lots each. Right now there is a main house and two additional residences on the property. There are also two deepwater docks. The owner of Tyndal Point is retired lawyer Robert Rust, who inherited the property from his aunt. She paid about $200,000 for the land more than 50 years ago.

Larger-than-life art star Julian Schnabel has cut the price on his outrageous Palazzo Chupi (above) in NYC yet again, and is now asking only $27.9 million for five floors combined of the pink palace. The 7,676-sq.-ft. spread consists of a duplex and triplex penthouse that were originally listed at $32 million and $27 million respectively when they were our Estate of the Day last year. The new price reflects an astounding discount of $31.1 million, less than the triplex itself originally. The apartments are also available separately with the triplex priced at $14.95 million and the duplex $12.95 million, Curbed reports. The previous reduction had them at $20 million and $18 million, respectively. As my colleague Deirdre Woollard reported recently, Schnabel has also been trying to rent the apartments out for $50,000 and $40,000 per month, respectively. Meanwhile he has had to sell a Picasso to finance the debt incurred in the building's construction.

Metro, the free daily paper, reported in its June 25 edition that a bunch of NYC people you may never have heard of are making more than most of us can dream of. No. 1 on the list of New York's highest-paid CEOs in 2008, according to Crain's New York Business, is Alliance Bernstein's Peter Kraus, pocketing $52.538 million; No. 2 is Gamco Investors's Mario Gabelli, pocketing $45.927 million; and No. 3 is Philip Morris's Louis Camilleri, pocketing $43.229 million.

I couldn't access the full list (you need a subscription to Crain's, or you can buy the report here), but the Metro article did note that there are only four women in the top 100: No. 26, Avon Products's Andrea Jung, $12.9 million; No. 37, PepsiCo's Indra Nooyi, $9.9 million; No. 72, Ann Taylor Stores's Kay Krill, $5.7 million, and No. 79, The New York Times Co.'s Janet Robinson, $5.3 million.

And I was happy to get a few thousand back on my taxes this year.

On June 23, a new exhibit opened at the Met: Afghanistan: Hidden Treasures from the National Museum, Kabul. My friend and I were able to go a few days before the opening, thanks to a members-only preview, courtesy of my mother.

History and fascinating story of the treasures' discovery aside (read here if you'd like even more background), I was wowed by the gold. Much of what's on display was discovered either in archeological digs or in a vault in the presidential palace, where citizens with foresight hid the treasures to protect them from war: jewelry, a belt, an amazing crown (shown here; it breaks down into six pieces for easy transport), a dagger sheath, clasps, anklets, rings, pendants, bowls ... the list goes on.

My favorite item, just for the sheer excess of it all -- and proving that showing your status via footwear is not a new thing -- was the pair of gold shoe soles designed to be placed with a body when buried. I guess mere sandals wouldn't do in the afterlife.

My friend and I really enjoyed the exhibit, which features many more items, gold and non-gold, such as glass, ivory and gemstones. But the gold alone is worth seeing if you are in NYC or planning a visit this summer. The exhibit will be at the Met until September 20 and is included in the price of admission to the museum.

(BTW, I also saw the Francis Bacon exhibit while there. He scared me a little, but viewing his work, you can see it's from the mind of a tortured genius.)

Last month we reported that stationer Mrs. John L. Strong, one of the world's leading boutique luxury brands whose customers included Tom Cruise and Katie Holmes, Vogue editor Anna Wintour, Oprah Winfrey and the late Duke and Duchess of Windsor, was shutting down after 80 years. Many of them were caught out short when the New York-based firm abruptly ceased all its operations; as a result the costly handcrafted metal dies and engraving plates (above) used for luxurious engraved stationery which customers had stored at Strong's for decades may never be recoverable.

Another luxury stationer, Dempsey & Carroll, is coming to the rescue. It is actually a much older establishment than Strong's, founded in 1878 by engraver John Dempsey and businessman George D. Carroll in New York. The firm soon became a society staple, providing the best in engraved cards and writing paper to the city's Gilded Age elite, a tradition continued to this day. Through the end of the year D&C is extending a special offer of reduced cost for custom engraving to all former Mrs. John L. Strong clients placing new orders, and has set about recreating their precious stationery.

Dempsey & Carroll custom stationery is created using hand-engraved steel dies and copper plates made to specification. Words and images are cut into the metal in an incuse fashion, a method similar to that used in manufacturing coins that has changed little since the 16th century process of engraving ascended to an art form. D&C is one of only a handful of stationers still using these distinctive hand-engraving techniques to create beautiful luxury paper products with their own unique stamp of history and tradition.

Here comes another huge New York price cut, a full $15 million. As the New York Observer's Max Abeslon reports, former WorldCom director has been trying for nearly five years to sell his home in the River House co-op on East 52nd Street in New York City. Galesi's 16-room duplex first hit the market for an astounding $50 million. The listing says that the duplex "gives the impression of a castle in Italy" but with amazing city views. The home has a large corner living room and a corner dining room which offer total frontage of 66 feet over the East River. There are eight bedrooms with two servant rooms. The Observer has the floorplan which shows that the master dressing room is bigger than both of the duplex's maid's rooms. The library has its own study but there is also a separate study upstairs and a sitting room. The home's 50 windows give it plenty of light. It is listed at $35 million. Now all the potential buyer has to do is pass muster with River House's notoriously strict co-op board.

This isn't the only River House apartment you can get for a discount. Another duplex in the building, the one belonging to producer Marty Richards, which was listed at $29 million in 2006 now sits at $18.9 million. It was nearly bought in 2008 by Elyse Kroll when it was for sale for $22.7 million but the board reportedly nixed the deal.

One of my favorite estate of the day properties, the Phipps mansion in Old Westbury, New York, has finally sold. This was our estate of the day last year when it was at $11.5 million but the home of the late Cynthia Phipps was originally on the market for $13 million. The final sale price of $9 million was the highest priced residential sale in all of Nassau County since last September according to the listing agent. The new owner, which Newsday says works in commercial real estate, is getting a 20-acre estate that includes a 12,000-square-foot house, built around 1930 and designed by the Manhattan architectural firm of Delano and Aldrich. The 20 wooded acres include a garden, fishpond, waterfall, vegetable garden, tennis court, heated pool, a five-bedroom apartment and a three-bedroom caretaker's house.

The main home has parquet and marble floors, high ceilings, deep moldings, pine paneling in the library, carved wooden fireplace mantelpieces and hand-painted wallpapers also contribute to the interior's splendor. The home includes a breakfast room, greenhouse, a master bedroom with a hall of closets, additional bedrooms with fireplaces and a second-floor staff area.

As Newsday reports, Richard Gere already has a home in North Haven, New York and so he's a motivated seller when it comes to his Water Mill home. Richard Gere and wife Carey Lowell have lowered the asking price for the seven-bedroom farmhouse from $8.8 million to $7.2 million,

Gere had his New York apartment in Julian Schnabel's Palazzo Chupi on the market for almost a year (it was last listed at $15 million but the listing has now disappeared). The charming Too Many Maples in Water Mill was bought by Gere and Lowell for $2.75 million back in 2001. The home is on a 1.2 acre lot that includes a swimming pool, guest house and artist's studio. The gracious country residence has been given a comfortable renovation that has the offhand casual appeal that it often takes quite a bit of money to attain. Antique wood floors and vintage light fixtures add to the classic style. Details like a farmhouse style table in the dining room and white marble counter tops set the stage for lazy food-filled weekends while the wide porch offers the perfect place to wile away the afternoon. What say you, is this photogenic home owned by a photogenic couple right priced now or will they have to dip closer to the $5 million mark in order to get it to contract?

Luxury Living: New York, the latest volume in teNeues' luxury series, affords a rare inside peek at a truly privileged world. The book features some of the Big Apple and environs' finest architecture interior design, from a glinting modern masterpiece in Manhattan to a solidly traditional structure set in the Hamptons. More than just the most expensive living spaces, however, the featured abodes all express opulence married to great taste, even on a small scale; one of the apartments included in the volume measures a mere 300-sq.-ft., while others are multimillion-dollar palaces. Dazzling photographs by Reto Guntli adorn every page.

Even the Treasury Secretary is not immune to real estate woes. We reported back in March that after his move to Washington D.C., Timothy Geithner put his New York English Tudor style home on the market. A couple months later and no sale so Geithner has pared another $60,000 on the price, bringing it down to $1.575 million in the beginning of May. Geithner and his wife, Carole Sonnenfeld Geithner paid $1.602 million for the five-bedroom home back in 2004. The AP reports that agents Scott Stiefvater of Stiefvater Real Estate and Debbie Meiliken of Keller Williams Realty say the house was rented for $7,500 a month on May 21 giving Geithner a chance to wait until the real estate market rebounds a bit.

A couple weeks back we wrote that Prince Harry would be competing in in the second annual Veuve Clicquot Manhattan Polo Classic during his first official visit to the U.S. In the match, which took place this past weekend on Governor's Island, the Prince's Sentebale polo team triumphed over Ralph Lauren's Black Watch, captained by Polo model Nacho Figueras, five goals to four. VIP spectators at the historic event who enjoyed afternoon tea prepared by Sandro Micheli, executive pastry chef at Adour Alain Ducasse at The St. Regis New York, included Madonna and her male model pal Jesus Luz, Kate Hudson, Louis Vuitton designer Marc Jacobs, Donna Karan, Chloe Sevigny and LL Cool J.