11/20/2012 04:54 pm ET

Ricky Martin Sells Golden Beach Mansion For $12.8 Million (PHOTOS)

Singer and Broadway star Ricky Martin finally sold his Golden Beach oceanfront mansion -- though for substantially less than what he paid for it.

Martin sold his north Miami-Dade pad at 641 Ocean Boulevard to unnamed party for a cool $12.8 million, according to

County records show Martin purchased the property in 2007 for $16.2 million. The Latin hit-maker hoped to grab $19 million when he put it up for sale, but settled for less after two years on the market.

Downsizing on Miami properties seems to be the name of the game for the father of two adopted twins, who just months ago sold his Miami Beach home in La Gorce barely in the black for $10.6 million.

Martin is reportedly planting more long-term roots in New York City, where he's been performing a lead role in the revival of Andrew Lloyd Webber's Evita.

“Ricky Martin has such strong ties to Miami that he will always consider it his home alongside Puerto Rico,” spokesman John Reilly told the Miami Herald in April. “As much as Ricky loves [South Florida] ... Ricky is currently performing eight shows a week at the Marquis Theatre in Times Square, and it would have proved to be a somewhat difficult daily commute.”

So how swanky was Ricky living in Golden Beach? Check out the recently-sold digs courtesy of

Ricky Martin's Former Golden Beach Home