Ricky Martin will no longer be ‘Livin’ La Vida Loca' in Florida after selling his Miami Beach mansion.
The singer finally sold his last home in south Florida after five years of trying to get rid of the property.
The 40-year-old star had his Miami Beach mansion on and off the market after paying $10m for the 10,000 sq ft home back in 2005.
Property records show he sold the mansion for $10.6million, but the name of the buyer has not yet been released.
Superstar couple Beyonce and Jay Z had been looking for a property in Miami Beach and were known to have visited the mansion whose neighbours include Miami Heat star Dwayne Wade and Bee Gee Barry Gibb.
The home was on sale for $19.8million in 2008 but with the collapse of the housing market in Florida, Martin was forced to reduce his asking price.
Then, two years later in 2010 it was on the market for $12.5million.
But with Martin, who is appearing on Broadway in the musical Evita, looking for a quick sale he accepted an offer $600,000 above his own purchase price.
Property taxes on the seven bedroom home are $106,000 a year.
The home was described as a 'Mediterranean masterpiece' by the realtors trying to sell the home.
Their description read: 'Mediterranean masterpiece with breathtaking open bay views from every room. This private estate is the epitome of luxury living featuring the finest in detailed finishes including solid mahogany doors, ceiling treatments, fireplaces, travertine marble throughout, and crown moldings. Spacious gourmet kitchen, formal dining room, full bar. Jacuzzi and pool.
It is the second home Martin, who has adopted twin boys, has sold in Florida in recent months.
Back in October, he sold his beachfront mansion in Golden Beach for $6.3 million.
But Martin, who is in a steady relationship with boyfriend Carlos Gonzalez, will still consider Miami his home, according to his spokesman.
The singer finally sold his last home in south Florida after five years of trying to get rid of the property.
The 40-year-old star had his Miami Beach mansion on and off the market after paying $10m for the 10,000 sq ft home back in 2005.
Finally sold: Ricky Martin has shifted his Miami home for a cool $10.6 million dollars after five years on the market
Moving on: Ricky Martin has sold his mansion for $10.6 million
Superstar couple Beyonce and Jay Z had been looking for a property in Miami Beach and were known to have visited the mansion whose neighbours include Miami Heat star Dwayne Wade and Bee Gee Barry Gibb.
The home was on sale for $19.8million in 2008 but with the collapse of the housing market in Florida, Martin was forced to reduce his asking price.
Then, two years later in 2010 it was on the market for $12.5million.
But with Martin, who is appearing on Broadway in the musical Evita, looking for a quick sale he accepted an offer $600,000 above his own purchase price.
Property taxes on the seven bedroom home are $106,000 a year.
The home was described as a 'Mediterranean masterpiece' by the realtors trying to sell the home.
Their description read: 'Mediterranean masterpiece with breathtaking open bay views from every room. This private estate is the epitome of luxury living featuring the finest in detailed finishes including solid mahogany doors, ceiling treatments, fireplaces, travertine marble throughout, and crown moldings. Spacious gourmet kitchen, formal dining room, full bar. Jacuzzi and pool.
Spacious: The Florida property features floor to ceiling windows and cool interiors
Time for a snooze: The bedroom is light and airy with wooden floors and neutral walls
Back in October, he sold his beachfront mansion in Golden Beach for $6.3 million.
But Martin, who is in a steady relationship with boyfriend Carlos Gonzalez, will still consider Miami his home, according to his spokesman.
Popcorn and a movie: The plush pad features its own private screening room, complete with comfy couches
Cooking up a storm: Ricky had a sizeable space to test out some culinary creations for his family
Ocean views: The home's swimming pool looks out on to the beach and the sea
'Ricky Martin has such strong ties to Miami that he will always consider it his home alongside Puerto Rico,' spokesman John Reilly told The Miami Herald.
'As much as Ricky loves [South Florida]... Ricky is currently performing eight shows a week at the Marquis Theatre in Times Square, and it would have proved to be a somewhat difficult daily commute.'
Ricky has received rave reviews for his role as the narrator Che in the Broadway reboot. 'As much as Ricky loves [South Florida]... Ricky is currently performing eight shows a week at the Marquis Theatre in Times Square, and it would have proved to be a somewhat difficult daily commute.'
Palm fringed: The actor is currently starring in Evita on Broadway so has no current use for the pad
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