Britney’s NYC Apartment Price Cut

Britney Spears has reduced the asking price for her New York loft on the market to under $5 million.

The New York Daily News reported that the three-bedroom penthouse in the Silk Building in lower Manhattan formerly belonged to Rolling Stone Keith Richard and Def Jam Records founder Russell Simmons.

The Modlin Group's listing emphasizes the apartment's history -- "Live like a celebrity in one of downtown's hottest full service prewar loft condo buildings." The apartment also has 13-foot ceilings, a professional kitchen and wood-burning fireplaces.

The Daily News said that Spears and her husband, Kevin Federline, have been spending more time in California. She put the apartment on the market last year at $6 million, which was later reduced to $5.25 million.