The Real Deal Miami

Billy Joel asks $2 million less for Manalapan estate

The new $27 million asking price still would be 59% more than the entertainer paid in 2015

May 21, 2016 03:15PM

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1920 South Ocean Drive in Manalapan

1920 South Ocean Drive in Manalapan

Recording artist Billy Joel reduced the asking price for his estate in Manalapan by $2 million to $27 million.

He originally listed his mansion and a vacant next-door lot on South Ocean Boulevard for $29 million with Jack Elkins of brokerage Fite Shavell, who remains the listing agent.

Joel is asking $19.5 million for the nine-bedroom, 13,216-square-foot mansion at 1920 South Ocean Drive and $9.5 million for the lot at 1940 South Ocean Drive.

The $29 million asking price for the side-by-side properties would be 59 percent more than he paid last year, perhaps with royalty income from such hit songs as “Piano Man” and “Big Shot.”

Joel paid $18.2 million for the combined property: $11.8 million for the residence and $6.5 million for the lot. [Palm Beach Post/Real Time] — Mike Seemuth