Celebrity Real Estate News This Week

Kourtney's clearing out of Calabasas, Billy is buying in Nolita, Scott is saying sayonara to Encino. See who's buying and who's selling in the world of celebtiry real esate this week.

Kourtney Kardashian may be "Taking Miami" on VH1 with her sister Khloe, but she's leaving her Calabasas Calif. home behind in search of bigger digs in which to raise her new son. The celebutante recently put her 2,245-square-foot house on the market for $795,000, for a moderate loss on her 2006 purchase price of $829,000.

The three-bedroom, three-bath house is well-appointed with luxe features such as a refrigerated wine closet, granite and marble finishes, and vaulted ceilings - but even a C-list Hollywood baby can't be expected to grow up in such modest circumstances, right?

Scott Baio (Chachi Arcola of "Happy Days" fame) (or attorney Bob Loblaw to you "Arrested Development" fans) has listed his Encino, Calif. home for $2,895,000 for a very happy profit over his 1994 purchase price of $1,385,000. We have to agree with RealEstalker that the 4,400 square foot, four-bedroom, four-and-a-half-bathroom single-story home is in desperate need of redecorating, but the lush lawns and tennis courts will surely appeal to someone looking to move to the Valley.

Baio's latest reality series showed him and wife Renee shopping around Encino again, but there are no reports of a purchase. When they do land somewhere, maybe best not to leave "Charles in Charge" of decorating the new pad.

Good luck movin' up, 'cause Billy Joel is... movin' out. The Piano Man just closed on a two-bedroom, two-bath Nolita pied-a-terre for a cool $3.3 million - a (relative) deal on the property which started out at an asking price of $3.375 million. The unit is in the lovely 211 Elizabeth Street building, known for its hand-laid, red-brick facade which gives the two-year-old building a charming pre-war feel.

But don't go updating your NYC celebrity map just yet: Curbed NY is reporting that the pad may be for Joel's daughter Alexa Ray (with ex-wife Christie Brinkley).
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