Ricky martin finally sells miami mansion

Ricky Martin finally sold his Miami mansion this month, after almost five years of trying.

The Livin' La Vida Loca singer's 10,000 square-foot beach house was put on the market back in 2008, but Martin failed to find a buyer for the seven-bedroom home.

He originally purchased the mansion in 2005 for $10m, but Martin's hopes of making a profit on the property soon dwindled as he dropped his initial asking price from $19.5m to $12.5m over the years. The house finally sold for just $10.6m.

"Ricky Martin has such strong ties to Miami that he will always consider it his home alongside Puerto Rico," the singer's spokesman commented. "As much as Ricky loves [Florida] ... Ricky is currently performing eight shows a week [in Evita] at the Marquis Theatre in Times Square, and it would have proved to be a somewhat difficult daily commute."