Tom Cruise has sold his 2-bedroom, 2-bathroom condo in New York for $3 million, UsMagazine.com reported.

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The recently divorced film star split from his third wife, Katie Holmes, last year. Holmes and their 6-year-old daughter, Suri, now live elsewhere in Manhattan.

"He just doesn't really need it anymore," a source told the magazine about the flat, which is located on the 10th floor of an East Village apartment building.

"He's barely in the city... The only reason to keep it was when he had Suri and Katie and needed a real home in the city for them."

Cruise also owns mansions in Beverly Hills, Calif., and Telluride, Colo.