Madonna gives up her Material World! Star finally sells Beverly Hills mansion after slashing price to $20m

Madonna has finally managed to sell the huge Beverly Hills estate she bought during her marriage to Guy Ritchie for a whopping $20 million.
That's an incredible $8 million more than the Material Girl paid for it in 2003, but far less than the original $28 million asking price.
Real estate guru Kurt Rappaport closed the deal on the property, according to TMZ. Apparently a mystery Wall Street type ponied up the dosh.

Not exactly a fire sale: Madonna has sold her Beverly Hills mansion for $20 million after dropping the original $28 million asking price

Room with a view: The Madonna manse has nine-bedrooms plus rooms for live-in help

Although Madge made a huge profit on the deal, it's not as much as she had wanted.
She listed her mansion for $28 million at the beginning of the year but dropped the price to $22.5 million after failing to get any bites.
In another move that showed she was serious about getting rid of the nine-bedroom property, The Borderline singer allowed the home to be listed on the very public Multiple Listing Service, where both the haves and the have-nots could openly gawk at stunning photos of the property
The French Country-style mansion was previously a pocket listing, meaning the real estate agent was not allowed to advertise to the general public that it was for sale.

Two coasts, two homes: Madonna also owns a duplex on the Upper West Side of New York

Second property for sale: Madonna lovingly renovated her New York City home

During the 10 years she has owned it, the 54-year-old pop star rebuilt and expanded the estate. It was completed in 2010.
The gabled-roofed estate sits behind gates on 1.17 acres of landscaped grounds.
The compound, accessed by a 500-foot tree-lined driveway, includes the nine-bedroom main house, offices on site for assistants and live in staff, plus two guesthouses.
Outside there is a resort-size swimming pool and a tennis court.
A  famous health and exercise fan, there is a two-story dining room and a gym. There's also a theater/screening room, an art studio, a bar and 17,000 square feet of living space.
Don't worry about where Madonna will live now. She is said to be shopping for a smaller place in Los Angeles and she still owns a $23.5 million duplex in Manhattan and a property in London.

Downsizing: Madonna, seen here in New York on May 2, 2011, owns property around the world and is now said to be looking for something smaller in Los Angeles