Fashion icon Tyra Banks has reduced the asking price of her Beverly Hills home by more than $1 million after the mansion failed to find a buyer.

After originally seeking $7.75 million for the 1920s-era home, the supermodel has slashed the price down to $6.5 million. She purchased the home for $3.09 million back in 2004.

The four-bedroom, seven-bathroom house is located in the Beverly Hill Post Office district. Banks spent more than $2 million upgrading the 6,040-square-foot home but managed to keep many of the original features of the property such as the handcrafted tiles on the outdoor fountains.

The Spanish Colonial-style estate on the highly sought-after Readcrest Drive recently became surplus goods for Banks after purchasing a new home in the luxurious Malibu Hills neighborhood. Banks, whose net worth exceeds $90 million, also owns another home in the Los Angeles area and an additional property in New York City.