After a decade-long slog, a number of financial hardships, a foreclosure scare, and a memorabilia auction, showbiz legend Burt Reynolds has at along last sold his long-time residence in Hobe Sound, FL, for $3.3 million.

The Oscar-nominated “Boogie Nights” and “Smokey and the Bandit” star, still shaking his 79-year old mustachioed moneymaker with a handful of film projects in the hopper, bought the 3.39-acre waterfront estate for $700,000 in 1980 and later lived there with his second wife, lacquer-haired actress Loni Anderson.

This property gossip first discussed Mister Reynolds’ real estate situation way back in 2008 when the bay-side spread was priced at $10.5 million but the property has been listed at a variety of prices that over the years that soared as pie-in-the-sky high as $15 million and dropped to its last published asking price of $4.9 million. The tropically landscaped estate includes a memorabilia-jammed 12,500-square-foot mock-Med mansion with five bedrooms, seven bathrooms, a 20-seat theater, billiard room, and a separate two-bedroom guesthouse. An octagonal screened cabana makes for a bug-free poolside lounge and the estate features a private dock and a rare helicopter landing permit.

The new owner, identified in the South Florida property gossip columns as Charles Modica, founder and Chancellor of St. George’s University in Grenada, has reportedly agreed to allow Mister Reynolds to remain in residence…as long as he keeps current on the rent.

listing photos: Century 21