No “Movin’ Out” for Billy!

No “Movin’ Out” for Billy!

No "Movin' Out" for Billy!
Unlucky in love and now in real estate, the Piano Man just can't catch a break! With the slowdown in home sales finally making itself apparent in the high end market, it appears that even this great Sagaponack property isn't going anywhere even after its hefty $7.5m price cut. Since the house has been on the market since 2009 and the price cuts have probably gone as low as is feasible, what else is there to do but take it off the market and wait for a better day?

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Previously owned by the late Roy Schneider of Jaws fame, Joel purchased the home in 2007 for his then-wife, celebrity chef Katie Lee. At that time the house underwent a design overhaul by noted designer, Nate Berkus. After his and Katie Lee's divorce, Joel put the house up for sale at $22.5m.

The house is just as spectacular a property today as the day it was originally listed, with its vaulted ceilings and walls of glass overlooking Gibson Beach and the Atlantic. Consisting of 4 bedrooms and 6 baths, this breezy open home sits on over an acre of land and has 145' of beach frontage. With all this going for it, the fact that Nate Berkus waved his magic wand over it too, makes it an exceptional find.

Speaking of Nate, . . .we're sure that with his huge success and all the stress necessary to maintain it, he must certainly need a beach house where he can go to decompress. What better place than one he has already designed! Nate, this one has your name on it! Maybe it's time to talk a little turkey with Billy!

Piano Man gives up on selling Hamptons home. Price was reduced from $22.5m to $16.8m. Off market!

Source: www.newsday.com