Eddie Murphy is finally unloading his luxury New Jersey estate – at less than half the asking price.
Alicia Keys is understood to be very close to signing a $12million deal to buy the Englewood estate.
The deal is significantly less than the original asking price – Murphy originally put the home on the market seven years ago for $30million.
Sold at last: Eddie Murphy’s estate in Englewood, New Jersey, has finally found a buyer
Keys plans to live in the house with her producer husband Swizz Beatz and their two-year-old son Egypt.
The property was nicknamed Bubble Hill back in Murphy’s 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 as low as $12.75 million in 2010.
Bargain hunger: Alicia Keys, pictured last week at a performance in New York, got the home from Eddie Murphy for a steal
A local real estate source close to the deal told the New York Daily News: ‘The closing has been delayed for months but they’re almost there.
‘When she closes, she’ll buy the two-acre lot behind the house, too.’
Murphy bought the home 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 in the area.
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.
But 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 nursery
Expensive living: Apparently annual taxes alone are $197,723
Upgraded: Eddie spends most of his time in his super-sized home in California