Pop diva Madonna has sold her New York penthouse for a loss to a US-based Indian business tycoon Deepak Narula.

Madonna had purchased the six-bedroom Harperley Hall home in Manhattan's Upper West Side in 2009 for a reported USD 32.5 million and spent millions more renovating the apartment, reported New York Post.

She recently lowered the price to just under USD 20 million as she struggled to attract potential buyers for the property when she listed it in November (12).

However, the 'Material Girl' has since agreed to hand over the keys to Narula, who allegedly scored the property for "considerably less" than the asking price.

The place comes with views over Central Park, a library and an eat-in kitchen, as well as interior decoration by Madonna's brother Christopher Ciccone.