RHONJ 's Melissa & Joe Gorga Sell NJ Mansion for $2.5M After Major Price Cut: 'New Beginnings'

NJLux & Warren Young Photography

Melissa and Joe Gorga are officially parting ways with their Montville, New Jersey, mansion — and it's a bittersweet goodbye.

The Real Housewives of New Jersey stars have finally sold their 16-room, 9,100-square-foot home, Melissa confirmed via Instagram on Monday. According to property records, the home sold for $2.5 million on December 14. They had original listed it for $3.5 million.

"Our family home for the last 12 years is officially sold," the mom of three captioned her post, sharing a slideshow of photos of the property. "We've made so many memories in this home. We were blessed to be able to share so many of them with all of you, @bravotv & the #RHONJ viewers. I love that I can always watch the reruns and remember the good times we had in it. I'm excited to start new beginnings with my family."

NJLux & Warren Young Photography

NJLux & Warren Young Photography

Melissa, 41, and Joe, 42, purchased the property, which is located in the affluent "Pond" section of Montville, for $950,000 in 2007, according to property records. They then worked together to design and custom-build the current home. Joe is a professional house flipper and real estate investor.

NJLux & Warren Young Photography

NJLux & Warren Young Photography

RELATED: RHONJ's Melissa & Joe Gorga List 9,100-Square-Foot Mansion for $3.5 Million

The stars first listed the home back in October 2017 for $3.5 million, represented by realtor Jason Failla. In July 2020, PEOPLE confirmed that the luxurious pad was placed back on the market for $2,948,888 — with a price cut of just over $550,000 — with Joshua Baris of N.J. Lux Real Estate.

NJLux & Warren Young Photography

NJLux & Warren Young Photography

The couple, who wed in 2004, share three children: daughter Antonia and sons Gino and Joey. Joe is also the brother of RHONJ cast member Teresa Giudice.

"My family and I have so many amazing memories in this house; Joe and I built and designed it from the ground up," Melissa told PEOPLE back in 2017 of their decision to put the house up for sale. "However, we decided it was time for a change and we're excited to see where life brings us next."

NJLux & Warren Young Photography

NJLux & Warren Young Photography

The mansion has six bedrooms, seven-and-a-half bathrooms, and includes a recording studio, movie theater, two-story library, gym, salon, walk-in wine cellar and custom lounge. It's set on over two acres of land, and the backyard features a pool, outdoor kitchen and entertainment space.

NJLux & Warren Young Photography

Key features inside the home include the double bridal staircase in the main foyer, a large center island in the kitchen and a marble fireplace in the great room, which leads out to the back patio.

"I am truly honored to have been chosen by Melissa and Joe Gorga to represent them with the sale of their Montville, NJ home," Baris told PEOPLE of the listing in July. "With the combination of Joe's quality construction and my unique online marketing techniques, we are confident that together we will successfully sell this incredible custom-built estate."

NJLux & Warren Young Photography

NJLux & Warren Young Photography

Joe found himself in hot water in February over a questionable Instagram post about his house-flipping business. The entrepreneur came under fire for a since-deleted photo shared on his personal Instagram page, which featured a house-flipping project he claimed was completed by his company.

RELATED VIDEO: Tarek El Moussa and Heather Rae Young Show Off Their New Family Beach House: Our 'Next Chapter'

The post showed what Joe claimed was a before-and-after shot of the same home, writing, "Look at this flip worth $1.9m. Took me 6 months to turn this around. Ripped off the roof & added to the second floor. I think I might move in."

Soon after, however, Instagram user Caley Svensson, of Park Ridge, New Jersey, reposted the image on her Instagram Story, claiming that the "after" photo was her house — and it had not been flipped by Joe.

"It was a new construction, the foundation was new," Svensson told Good Morning America, noting that Joe couldn't have flipped because it was built so recently. "Everything about it was new. It was built from the ground up."

BACKGRID Joe and Melissa Gorga

The "before" photo appeared to show a completely different property located on the other side of town, according to property records acquired by Page Six.

RELATED: Joe Gorga Apologizes After Posting Phony 'Before' and 'After' Flip House Photos: 'An Error'

A representative for Joe told PEOPLE the post was simply an error made by his social media manager.

"Joe has flipped hundreds of properties since he was 20 years old," the representative said. "He has a very successful real estate business and relied on a social media person in his office who helped him with all that stuff. Unfortunately, it was just an error that person made that Joe didn't catch."

The rep continued: "He never intended to do anything but be truthful, and is sorry to have been misleading to his followers. Joe had helped fund that project and not flip it. It was a mistake and Joe's going to definitely be more careful with what he's posting in the future."