Joel's Sagaponack Mansion Drops Price

Billy Joel really wants to sell his house, and it’s looking like a bargain!

Less than 6 months after lowering the price of his Sagaponack home to $18.5 million from its $19.9 million listing , Joel slashed his asking price by nearly another $2 million. The house is currently listed at $16.8 million, according to a story that the Wall Street Journal broke last week.

Joel purchased the four-bedroom, six-bath house as a gift for then-wife Katie Lee in 2007. The couple split shortly after, and the famed singer and long-time Long Island icon put the home on the market for $22.5 million in 2009, but has struggled to find a buyer. The home boasts an acre of property and 145 feet of oceanfront on Gibson Beach. It is now listed at just under three-quarters of its original market price.