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.
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