Katie Lee‘s newly released cookbook “Endless Summer” is all about the quintessential Hamptons lifestyle, and after one look at her stunning Water Mill estate–complete with a wine cellar and outdoor entertaining area of chefs’ dreams–it’s easy to see why she was inspired. The Wall Street Journal reports that the star of the Food Network’s “The Kitchen,” and ex-wife of Billy Joel, has listed the 6,325-square-foot, impeccably decorated (courtesy of designer Nate Berkus) home for $6.5 million. She purchased the two-acre estate for $3.5 million after splitting with Joel in 2011, so she’s looking to make quite the profit.
The sale is the second for Joel at the building, the first being an $11 million deal he struck last year for the two-bedroom, 10,000-square-foot penthouse he once shared with ex-wife Christie Brinkley. The one-bedroom is a comparably modest pad situated on a high floor of the building. An eat-in kitchen, abundant south light and city views are some of the perks, but the listing (now offline) noted that the home needed renovation. The apartment was previously rented out, though Joel and Brinkley did entertain it as a penthouse extension. The transaction was managed by Joel’s accountants Gelfand, Rennert and Feldman. Adam Modlin of the Modlin Group brokered the deal.
How would you like to live in the Piano Man’s Hamptons home? Well, for all you Billy Joel fans, your moment in the sun has come, because for just $250,000 you can have his Hamptons home for all of… the month of August. It appears that after experiencing a somewhat turbulent journey with this home—the house has been on and off the market several times since 2009—Joel and his pad are parting ways yet again, and this time he’s spiced up his offer a bit. Not only has the price dropped from an astronomical $23.5 million to a slightly less astronomical $19.95 million, but the singer/songwriter has apparently opened his eyes to the possibility of renting… however pricey. Baby steps.
We’ve all seen this phenomenon when a seller has such a personal attachment to a home that they can’t seem to price it reasonably? Is this one of those instances? Or is the Sagaponack home worth the cost? You be the judge.