Bruce Springsteen is selling off a 7.4-acre estate in Monmouth County, New Jersey, which he’s owned for decades but rarely lived in, according to property records.

It’s the second of two adjacent properties "The Boss" is unloading in the affluent coastal town of Rumson. Last May, he sold a smaller house next door to Brooklyn Nets basketball player Randy Foye for $1.737 million, according to property records.

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A notice recently filed with the county shows Mr. Springsteen is now in contract to sell the nearly 6,000-square-foot home to a portfolio manager for an investment firm in New York City. The contract doesn’t list the sale price, but the county last assessed the property at around $3 million.

The music legend bought the vine-covered mansion back in November 1983 through his long-time manager, Jon Landau, and a business manager, county property records show. It’s only one of several homes the "Born to Run" singer owns in New Jersey, Florida and Los Angeles.

Mr. Springsteen must have been quietly shopping the home around, as it was was never publicly listed.

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Aerial images of the property show a long drive and manicured front lawn leading up to a grand main house, which is protected by a mass of trees shielding it from the main road. Vines cover the front of the home, built in 1917, and the back door leads out to a small garden surrounded by acres of green lawn.

The property also includes an outdoor pool and guest house separated from the main home by a line of trees.

Mr. Springsteen still owns a horse farm in Colts Neck, New Jersey, where he lives with his wife, Patti Scialfa. He also owns a spread in Benedict Canyon in Beverly Hills, California, according to Los Angeles property records.

A lawyer for Mr. Springsteen did not immediately return a request for comment.