Mariah Carey Bel Air is for Princes Not for Queens

7/26/2014 12:30 AM PDT

Mariah Carey -- Bel Air is for Princes, Not for Queens (HOME PHOTOS)

Mariah Carey and Nick Cannon just freed up a big chunk of Bel Air, selling their massive estate and pocketing a few mil in the process.

The couple sold the 3 acre, 7-bedroom Colonial for a skosh over $10 mil, which sounds impressive, but it's 3 million LESS than what they wanted.  Nonetheless, they bought it for $7 mil in 2009 so they won't be apartment hunting in the Valley.

In case you want to know what you missed out on ... the house has a movie theater, a gym, an indoor basketball court and a putting green.

Unless Miley Cyrus bought the house, it's likely the monogram at the bottom of the pool will be deep six'd.

Real estate sources tell us ... M&N plan to ditch the left coast ... for NYC.