Pop superstar Britney Spears is smarting after the value of her New York apartment plummeted by more than $1 million in just three months.

The singer's luxury penthouse abode was first put on the market at $6 million, but is now being offered for $4.95 million, according to New York Magazine.

Spears has owned the three-bedroom apartment for several years, but first decided to put it on the market when she became pregnant and opted to move to the US west coast with husband Kevin Federline.

Source: Teen Hollywood

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