Talk show icon Jay Leno is the new owner of a luxurious French chateau-style mansion in the upscale town of Newport, Rhode Island.

Leno purchased the 18,000 square-foot home for a reported $13.5 million; a steal considering it was previously listed on Sotheby's for $17.5 million.

The lavish residence is called Seafair and boasts eight bedrooms and 11 bathrooms. Comprising nine acres, the property also features an infinity pool, private beach, tennis court, carriage cottage and a six-car garage.

In addition to the large garage are 20 other spaces available for parking on the property, meaning Leno will be able to pick and choose which of his 286 vehicles he wants to keep on-hand.

Sitting right on the Atlantic, the crescent-shaped home was designed “to complement the curve in the peninsula it sits on and create 270 degree ocean views,” according to the Sotheby's listing.

"We are happy to welcome Jay Leno to Newport. It's wonderful to see more prominent people joining our community," said Melanie Delman, president of Lila Delman Real Estate, which sold the property.

'We anticipate a continued interest in Rhode Island, specifically with regard to the many unique real estate opportunities we have to offer.'

Check out photos of the property up top.