Puerto Rican singer Ricky Martin sold his seven-bedroom Miami Beach mansion for $10.6 million, but the name of the buyer is not yet known, The Miami Herald reported.
The house faces Biscayne Bay on North Bay Road and is close to the homes of Miami Heat stars Dwyane Wade and Chris Bosh, and the mansion of Bee Gees frontman Barry Gibb.
Martin, who had a huge hit with "Livin' La Vida Loca" and is currently starring on Broadway in the musical "Evita", had been asking for "$12.5 million. But the house, built in 2004, was sitting on the market on and off for nearly five years".
The singer bought the mansion in 2005 for $10 million, The Herald said, citing MLS real estate records.
"The property was listed for $19.5 million in 2008, but Martin steadily decreased his price as the economy went south," The Herald said.
The 40-year-old Martin "has been a visible, well-liked presence in South Florida for almost 20 years. But the North Bay Road sale is Martin's second in the area in six months. He also sold his beachfront digs in Golden Beach for $6.3 million in the fall", The Herald said.