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After his New Jersey mansion spent nearly five years on and off the market, hip-hop heavyweight Sean “Diddy” Combs has once again substantially slashed its price. Located about 20 miles north of Midtown Manhattan in the tiny but prodigiously affluent borough of Alpine, the 3.25-acre estate first popped up for sale over the summer of 2011 at $13.5 million, and since then has undergone numerous discounts that have dropped the asking price to its present sub-$8 million level. Combs acquired the nearly 9,000-square-foot vaguely Colonial-style red brick mansion in July 2004 for $6 million. Marketing materials show that the 20-some-room behemoth has seven bedrooms — three multi-room master suites and three en suite bedrooms with walk-in closets, plus a staff bedroom in the basement — and a total of 9.5 bathrooms in about 17,000 square feet.

Formal living and dining rooms flank a voluminous central foyer that opens to a grandiosely cavernous double-height great room with wet bar and fireplace. There’s a second, green marble-faced fireplace in the wood-paneled library, and the expensively outfitted if decoratively generic kitchen opens to a dining nook set into a windowed bay. A full gym and bath sit atop a detached three-car garage that abuts an indoor basketball court, and the finished basement holds a small but plush home theater along with a disconcertingly gargantuan, 2,000-square-foot recreation room. Manicured grounds encompass rolling lawns and mature gardens, swimming pool, spa and a lighted tennis court.

In addition to his lingering Alpine spread, Combs is having a devil of a time dumping a glammed-up New York condo he picked up in early 2005 for a sliver more than $3.8 million. First put up for sale way back in the fall of 2012 at $8.5 million, it remains unbought at a hair under $7 million. As much as we’re certain he’d like to sell the above mentioned properties, we imagine their costly upkeep is more a nuisance than a financial hardship for the entrepreneurial music industry mega mogul who Forbes estimated last year presides over a fortune just shy of three-quarters of a billion dollars. Commensurate with his prodigious pecuniary means, Mister Diddy maintains a heavy-duty property portfolio: a 12,000-square-foot waterfront mansion on Miami’s Star Island; a considerable estate in L.A.’s Holmby Hills scooped up in 2014 for $39 million; and a bay-front contemporary in East Hampton, NY, that, turns out, has rather surprisingly come available as a summer rental at $95,000 per month.

listing photos: Prominent Properties Sotheby’s