Billy Joel’s ex buys Water Mill home for $3.5M

Katie Lee and her new Water Mill home

Katie Lee, the ex-wife of Billy Joel and author of two cookbooks of her own, purchased a home in Water Mill for $3.5 million, about half-a-million less than the asking price, Newsday reported. The 6,700-square-foot, six-bedroom, six-and-a-half-bathroom home sits on two acres of land, and was listed by Kimberly Stengel and Dane Clark of Town & Country Real Estate.

Lee had been living in a Sagaponack beach home purchased by Joel when they were married and that home is now on the market for $16.75 million, a significant price cut from its initial $22.5 million asking price. Lee recently sold her Manhattan townhouse, at 23 Perry Street, for $11.65 million. [Newsday]