Greg Norman found new love with Chris Evert, but his bank balance has taken another $US17.5 million ($27 million) hit.

The Australian golf champion has become victim of America's sagging real estate market.

Just months after ex-wife Laura Andrassy won $US103 million in their bitter divorce battle, Norman has been forced to slash the asking price for the former couple's Florida mansion from $US65 million to $US47.5 million.

The new price is far from a fire sale.

If Norman secures $US47.5 million for the four-bedroom oceanfront estate on the millionaire's paradise of Jupiter Island, he will break the record for the most expensive sale in the area, eclipsing the $US44.5 million Tiger Woods paid for a nearby mansion in 2006.

Norman and Andrassy bought the home in 1991 for $US4.5 million. It became the centrepiece of their headline-grabbing divorce battle, with accusations the man known as the Great White Shark changed the locks on the property to keep Andrassy out.

Ironically, before the marriage deteriorated the couple nicknamed the home 'Tranquility'.

Under the divorce deal, Andrassy will pocket $US17.5 million from the sale of the house.

Built on 3.2 hectares, the property also features a two bedroom guesthouse, a garage for 17 cars, tennis court, pool and was the focus of worldwide attention in 1997 when Norman's good friend, US President Bill Clinton, injured his knee during a visit.

In June, Norman married 1980s US tennis glamour girl Evert in a high-security beach resort wedding in The Bahamas.

Andrassy, who once counted Evert as a friend, is also moving on with her life.

The former flight attendant is set to buy a $US7.55 million property in New York's millionaire's playground, The Hamptons. It is believed Andrassy plans to tear down the home and rebuild.

AAP