Eddie Murphy house sale: Star's New Jersey home finally sells for $12m
No laughing matter: Eddie Murphy finally offloads his New Jersey home for $12m after putting it on the market for $30m
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Eddie Murphy is finally sold his New Jersey property - but he's not laughing all the way to the bank.
The comedian is understood to have offloaded the Englewood estate for $18million less than the original asking priced.
He is said to have recently accepted an offer for $12million after putting it on the market seven years ago for $30million.
Sold at last: Eddie Murphy's estate in Englewood, New Jersey, has finally found a buyer
Still smiling: The real estate market hasn't been kind to the comedian
The property was nicknamed Bubble Hill back in his bachelor days, referring to a slang term for party.
The house has taken many price cuts since it was first listed in 2004, dropping to $22 million in 2007 and was as low as $12.75 million in 2010.
While the mystery buyer is expected to close the deal by September, they will be getting plenty for their buck.
The home on 5 acres was bought for $3.5 million in 1985 and back then, it was 10,000 square feet.
However the comedian added an additional 15,000 square feet making it one of the most extravagant pads around.
The unknown buyer will get a mansion that includes eight bedrooms, eight full baths and four half baths, a bowling alley, a racquetball court, a fully-outfitted child’s play gym, and a professional music recording studio.
Huge: The property apparently has a guest house which is large enough to be classed as a mansion in itself
Splash around: The home has a large pool area
Expanding pad: The 32-room Colonial mansion has eight bedrooms, eight full baths and four half baths
The 32-room Colonial mansion was once occupied by Eddie and his ex-wife, Nicole - whom he met in 1988 and divorced in 2006 - as well as their five children.
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ShareBut annual taxes alone are $197,723 and he spends most of his time in his Bel-Air mansion in California.
Real estate broker Dennis McCormack, of Prominent Properties Sotheby's International confirmed the 25,000-square-foot, 30-room mansion on Brayton Street ‘is under contract’ on Monday.
Built for fun: It also features a bowling alley and a racquetball court
Family home: The mansion has a fully-outfitted child's play gym
Decreasing value: The price of the Englewood house has been dropped several times since it was first put up for sale
He said: ‘It's a beautiful house and 10 minutes from Manhattan.’
The gated property apparently includes a guesthouse that is large enough itself to be considered a mansion in itself.
In March his new comedy was the laughing stock of the U.S. Box Office this weekend - only ranking in sixth place and taking just $6.4m.
Perfect home: The real estate broker described it as a 'beautiful house and 10 minutes from Manhattan'
Expensive living: Apparently annual taxes alone are $197,723
Mystery shopper: The identity of the purchaser remains unknown
The movie - a leftover shot in 2008 and finally dumped into theatres by distributor Paramount - was so bad it had a perfect score on the film critic site Rottentomatoes.com: all of the 37 reviews compiled there for the movie were negative.
It features Murphy as a fast-talking literary agent and neglectful family man who gets a lesson on the important things in life after discovering he has only a thousand words left to utter before he dies.
Family digs: Murphy used to share the property with his ex-wife Nicole and their five children
Upgraded: Eddie spends most of his time in his super-sized home in California
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