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Celebrity Real Estate Wrap: Britney Slashes!

1) Britney Spears has cut the asking price on her East 4th Street loft to $5.25m (from about $6 million), Braden Keil reports. The Modlin Group now has the listing, which has been on the market since last summer; no word if it's still 80% less tacky. [NYPost]
2) Deal for Church of Scientology to buy the late Jim Henson's East 69th Street mansion falls through, says Michael Calderone. New buyer waits in wings, apparently ready to pay about $12m. [NYObserver]
3) Further proof that the West 50s are a verifiable hot neighborhood: P. Diddy buys at the Park Imperial on West 56th Street for about $4m, reports William Neuman. [NYTimes]