Billy Joel Sells New York City Condo to Daughter for $4.5 Million, Discounts Long Island Estate by $5 Million

Iconic singer Billy Joel is experiencing contrasting outcomes in the real estate worldsuccess with one property sale, alongside a major price reduction on another. The 76-year-old artist listed a large portion of his Long Island estate in early March for $39.9 million, after initially trying to sell all three parcels of the property for $49 million. Following several months without offers, the main house's price was reduced twice, first to $29.9 million and then to $25 million.

Meanwhile, Joel successfully sold his Manhattan condo to his daughter, Alexa Joel, for $4.5 million. Purchased in 2010 for $3.3 million from his then-wife Katie Lee, the transaction earned him a $1.2 million profit. The 1,600-square-foot, two-bedroom, two-bathroom unit at 211 Elizabeth Street features dark herringbone floors, black crown moldings, and a chefs kitchen, according to Curbed. Alexa has been living in the apartment since 2010, making the sale largely a formality.

Shortly after this Manhattan transaction, Joel lowered the asking price of his Long Island estate by $4.9 million. The 14-acre property, known as MiddleSea, was initially listed in March after an attempt to sell all three parcels for $49 million. The estate already saw the gatehouse sold for $7 million. Joels strategy now is to sell the main house separately from the two adjacent buildable lots, each listed at $3.5 million.

Emmett Laffey, CEO of Berkshire Hathaway HomeServices Laffey International Realty, explained that selling the estate in parts mirrors how Joel acquired it over the years. The main residence spans 20,000 square feet with five bedrooms, six full baths, two half-baths, a playroom, spa, hair salon, bowling alley, wine cellar, and an indoor pool converted into a music room. Additional amenities include a three-bedroom beach house, guest apartment, helipad, two outdoor pools, and a floating dock with a boat ramp.

The estate reconfiguration coincided with Joel's announcement on May 23 that he would cancel his tour to address normal pressure hydrocephalus, a condition caused by fluid accumulation in the brain that affects balance, memory, and walking. A spokesperson shared on Instagram that his symptoms have worsened after recent performances, impacting hearing, vision, and coordination. Joel is undergoing targeted physical therapy and is refraining from performing while prioritizing his health. The statement emphasized Joels gratitude toward fans and his commitment to return to performing once recovered. Concerts in cities including New York, New Orleans, Toronto, Santa Clara, Salt Lake City, Washington D.C., and Liverpool were affected, with automatic refunds to ticket holders.

This health update comes a year after Joel acquired a $10.7 million Hamptons property with four bedrooms, five bathrooms, and 3,500 square feet of living space on 5.15 acres. The estate features a heated barn with eight stalls, a Grand Prix field, hayloft, tack room, wash stall, and an office. Joel previously sold a large waterfront home in South Florida after six years on the market, taking a $22 million reduction from his initial asking price.

Author: Sophia Brooks