P Diddy reduces price of New Jersey home

P Diddy has reportedly put his New Jersey home back on the market for $8.5 million after dropping the price from $13.5 million.

P Diddy has reportedly dropped the price of his New Jersey mansion by $5 million.

The 45-year-old rapper has put his sprawling 26-room property back on the market four years after failing to attract when he originally listed it for $13.5 million in 2011.

The 'Last Night' hitmaker, who bought the house in 2004 for $10 million, thought he had found a buyer in December after quietly reducing the price, but the deal fell through, according to Today.com.

The seven-bedroom, nine-bathroom red-brick estate sits on approximately three acres and features a two-story grand foyer, a library and a master suite with a sitting room and fireplace.

It also boasts a cinema, swimming pool, a putting green, two waterfalls, aquarium, state-of-the-art gym and a six-car garage.

The star - whose real name is Sean Combs - is also still trying to find a buyer for his $7.5 million apartment in Manhattan, New York City, but splashed out on a $39 million mansion in Holmby Hills, Los Angeles last summer.

The lavish property includes a pool and grotto connected by an underwater tunnel, a wine room, a spa and a large cinema.

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