Justin Timberlake and Jessica Biel sell lavish NYC penthouse for $6.35 million as they suffer a LOSS after dropping the price four times

Justin Timberlake and Jessica Biel have suffered a loss on their lavish New York penthouse after being forced to drop the price four times since listing the home in March this year.

The 37-year-old Grammy Award winning singer and his Hollywood heavyweight wife, 36, have now sold the three bedroom Soho Mews apartment for $6.35 million, yet purchased the pad for $6,567,713 in 2010.

The couple’s $200,000 loss will no doubt come as a blow as they splashed out a cool $20 million last year for their new home down the road, a penthouse in the celeb-packed Greenwich Street in New York City, living alongside the likes of Harry Styles and Jennifer Lawrence.

The couple, who are the parents of three-year-old son Silas, initially put the 2,600-square-foot home up for sale for $7.995million in March, but dropped the price four times over seven months, for a total reduction of $1.5 million.

TMZ reports the pair first reduced the price of the property by $1 million last spring, in two separate $500,000 increments, then, in July, he slashed the asking price by another $245,000, bringing it down to $6.75 million.

Last month there was a $400,000 price reduction, bringing the asking price down to $6.35 million, which did the trick in shifting the property.

Daily Mail