Kimora Lee and Russell Simmons Finally Sell Marital Home

They put their huge estate on the market in 2007 for a whopping $23 million - $10 million more than they paid for the property in 2001.

However, the mansion - which features 10 bedrooms, 11 bathrooms and two pools - failed to entice buyers hit hard by the economic downturn and spent three years on the market.

The pair has now agreed a contract with a buyer after slashing the asking price to around $13.9 million, according New York Post gossip column PageSix.