Billy Joel’s Sagaponack Mansion Takes 2nd Price Cut

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FILE - In this June 17, 2010 file photo, Billy Joel attends the 2010 Songwriters Hall of Fame awards gala in New York. (AP Photo/Peter Kramer, File)

Long Islanders have suffered some real estate woes in the past few years, and Billy Joel is no different. The singer, who is having some trouble selling his mansion in Sagaponack, recently cut the multi-million dollar asking price for a second time.

The Piano Man originally bought the beachfront estate from the late Roy Scheider for his then-wife Katie Lee in 2007 for $30 million.

He later sold an adjacent plot, but the mansion that he originally put on the market in 2009 at $22 million has not been snatched up. So he slashed the price to $18.5 million in hopes that it would help sell the estate.

But still Joel had no luck, prompting him to slash the price tag once again. The skillfully designed home, with its interior design done by Nate Berkus, is now listed at $16.8 million.

With four bedrooms, six bathrooms, 145 feet of oceanfront and a little more than an acre of space, it’s a sight to see. According to the property listing, set up by realtor Biana Stephanian of The Corcoran Group, another perk is the terraces on every floor, perfect for taking in those beautiful oceanfront views.

Joel is just one of several big shots who have houses up for sale that haven’t been getting any bites in the current market.

The late Dinah Shore’s home sat on the market for two years. Burt Reynold’s home lasted five years on the market before he gave up. Pierce Brosnan and Barry Manilow’s Malibu mansions, baseball star Manny Ramirez’s Boston home and Hulk Hogan’s place in Florida, have all been up for sale for some time.

It’s a tough housing market, as Joel ought to know by now.