Leonardo DiCaprio is selling his historic Long Island mansion for $19.5 million. Leo's estate boasts a pool, tennis courts, and gorgeous ocean views. The 3-acre property on the North Shore of Long Island has been on the market since September 2015 with an asking price of $28 million. The buyer is in contract to purchase the estate for $19.5 million.

The Titanic star's home, which he purchased in 2005 for $14 million, has been on and off the market over the past few years. Leo reportedly decided to sell the mansion after realizing that it was too big of a project for him to tackle in his spare time.

This Gatsby-inspired estate spans more than 8,000 square feet, with seven bedrooms and 10 bathrooms. The main house is surrounded by gardens of its own and sits on a bluff overlooking the Atlantic Ocean. "It's absolutely beautiful," one source said. "But it needs to be restored." 

The historical property designed by architect Horace Trumbauer features antique 16th century oak staircases, a gilded ballroom, and Palladian windows. The massive property has been used as Gatsby-esque parties in the past. It was reportedly one of Leo's favorite places to throw his famous mansion fetes, complete with celebrity friends like Tobey Maguire, Orlando Bloom, and Kate Hudson.

Leo has been linked to model Nina Agdal in recent weeks. The 26-year-old stunner starred alongside the 41-year-old actor in his new film The Revenant, which opens later this month. Leo was previously married to Gisele Bundchen for five years until their divorce in 2005. They have a 9-year-old son named Leonardo DiCaprio who is often seen around the city with his famous dad.

The Gatsby-esque mansion is a rare offering in the town of Amagansett, which has changed little over the years and still retains its small-town character. The home has been owned by just three families since it was built in 1939.