Billy Joel has recently lowered the price tag on his luxurious Florida estate in Manalapan to $49.9 million, a significant reduction from the initial asking price of $64.9 million. The Mediterranean-style mansion spans over 13,000 square feet and includes nine bedrooms and eleven bathrooms. This decrease in price amounts to a dramatic drop of $15 million, indicating Joel’s urgency to sell the property. The reason behind this decision is currently unknown, and inquiries to his representatives have been made for clarification.
Florida has seen an increase in residents moving in due to its warm climate, tax benefits, and lower living costs. However, the state has also experienced a significant number of residents leaving, with nearly 500,000 people exiting in search of familiar northern comforts. Among those disillusioned with the Florida dream is Louis Rotkowitz, a New Yorker who recently left the state after only two years. The backlash against Florida’s harsh climate, hurricanes, and wildlife has prompted many to seek refuge elsewhere, as seen in the recent trend of people moving out of the state.
Joel’s Florida estate has been described as a “spectacular ocean-to-lake Light and Bright Modern Mediterranean Compound” with various luxurious amenities. The property includes a gourmet kitchen, theater room with a full bar-equipped pub, and a paneled library with an intricately detailed fireplace. The estate also features an expansive primary wing with dual baths, walk-in closets, and ocean views, as well as a finished basement housing a large garage and a temperature-controlled wine cellar with a wet bar and tasting table. Outdoor enthusiasts can enjoy the estate’s amenities such as a concrete dock, oceanfront loggia with a summer kitchen, dining area, TV, and fireplace, as well as covered and open balconies, a fountain, and a pool.
In addition to selling his Florida estate, Joel has purchased a property in Boca Raton’s exclusive Sanctuary development. With plans to spend more time in Florida like “old Jewish guys from Long Island do,” Joel’s decision to sell his Manalapan estate and acquire a new property in Boca Raton suggests a shift in his real estate portfolio. He recently listed his longtime 26-acre Long Island estate on Centre Island, which was taken off the market for renovations. The timeline for when this property will be relisted is currently unknown, indicating Joel’s ongoing real estate endeavors.
Billy Joel’s decision to sell his lavish Florida estate at a reduced price reflects a growing trend of residents seeking to leave the state in search of more familiar comforts. Despite the appeal of Florida’s climate and tax benefits, many individuals have been deterred by the challenging weather conditions, natural disasters, and wildlife. Joel’s estate, with its upscale amenities and Mediterranean design, offers a glimpse into luxury living in Florida. As he navigates the real estate market with new acquisitions and sales, Joel’s evolving property portfolio continues to capture attention and intrigue.
