The Los Angeles home of renowned actress Jane Fonda has been officially sold for $8.535 million - one third of what the Academy Award winning star originally listed asked.

The sale of Ms Fonda's home, which she bought with her former lover, music producer Richard Perry, officially closed last week for a price significantly lower than the $12.995 million it was originally listed for. The price has been gradually lower over the past year since it was first put on the market.

The three-bedroom house spans 7,100 feet and is located in the celebrity-rich Trousdale Estates neighborhood of Beverly Hills. It has five bathrooms and impressive canyon and ocean views, according to the listing with Jade Mills and Valerie Fitzgerald for Coldwell Banker Global Luxury.

The former celebrity couple bought the home together in 2012 for $7.29 million, after looking at more than 30 houses, Ms. Fonda said in a video marketing the home.

“The day we pulled in through the gate,” said Ms Fonda at the time. “I took one look at this house and I knew. This was the place where we could live very happily.”

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