Alicia Keys Drops Price on NY Mansion

Real estate market recession hits home with Alicia Keys and Swizz Beatz.

Posted: 12/06/2010 05:04 PM EST
Alicia Keys

Alicia Keys knows a thing or two about the real estate recession and the current economic climate.

Word is the R&B singer is having a hard time selling her Syosset, NY mansion. The house was reportedly on the market for $3.5 million back in June, but singer has yet to find a buyer, which prompted her to drop the price to $2.99 million.

Sitting on 2.2 acres, the house boasts six bedrooms, an in-ground pool, marble floors and spiral staircases. Keys is selling the property to move into her new $14 million estate with her new husband, Swizz Beatz. The house was formerly owned by rocker Lenny Kravitz.

Alicia's not the only one to take a hit in the real estate market this year. Back in August, Russell Simmons cut the price of his Saddlebrook, New Jersey mansion by a whopping $10 million after struggling to sell it at the original asking price of $23 million.

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