Billy Joel Drops Beach House by $4M

Poor Billy Joel: First, he gets dumped and has to split his real estate holdings with third ex-wife, Katie Lee Joel, and now he can't unload his beach house in the Hamptons.

The Piano Man's classic wood-shingle beach house is set in desirable Sagaponack, N.Y. The 4-bedroom, 6-bath, 6,000-square-foot house was originally listed at $22.5 million, then lowered to $19.9 in September. It is now listed at $18.5 with Biana Stepanian of The Corcoran Group. That's a $4 million, or 17 percent, discount.

No doubt, multimillion-dollar beach houses are hard to move these days; but, by all accounts, this is a plum abode.