Billy Joel Is Movin’ Out of His $49 Million Long Island Mansion
The Grammy winner wants to sell the roughly 26-acre waterfront estate now that he and his wife are spending more time in Florida
2 min
Billy Joel’s roughly 26-acre, waterfront estate on the North Shore of Long Island is coming on the market for $49 million.
The Grammy winner paid $22.5 million for the first roughly 14 acres of the Oyster Bay, N.Y., estate in 2002, public records show. More recently, he acquired several adjacent parcels of land, restoring much of an original estate that was broken up in the 1950s, according to listing agent Bonnie Williamson of Daniel Gale Sotheby’s International Realty.
Known as Middlesea, the property was briefly listed for sale in 2006 asking $37.5 million, but was taken off the market soon after, Ms. Williamson said. She said the Piano Man is looking to sell now because he and his wife, Alexis Roderick, with whom he shares two young children, are spending more time in Florida. A spokesperson for Mr. Joel couldn’t be reached for comment.
Located on Centre Island, a small island roughly 40 miles east of Midtown Manhattan, the estate is close to Mr. Joel’s hometown of Hicksville, a hamlet also located in the town of Oyster Bay. The centerpiece of the estate is a roughly 20,000-square-foot mansion. The property also has a floating dock, a beach house with guest rooms, a gate house, two outdoor pools and a helipad, Ms. Williamson said.
Currently under renovation, the five-bedroom main house has covered porches, brick columns and archways, and a two-story entry hall with black-and-white marble tiled floors. Other amenities at the estate include an under-construction playroom, a room designed to be a spa and hair salon, a bowling alley and a wine cellar. Mr. Joel covered up an indoor pool so he could use the space, which has excellent acoustics, as a music room, Ms. Williamson said.
The renovation of the house is expected to be complete by the late summer or fall, she said. Mr. Joel decided to put the house on the market in the midst of the renovation, Ms. Williamson said, because “whoever buys will want to do their own selections of how to paint and decorate and perhaps style the kitchen.”
Mr. Joel, known for songs like “Piano Man,” “We Didn’t Start the Fire” and “Uptown Girl,” is in the midst of residency at Madison Square Garden in New York.
Records show a company tied to Mr. Joel purchased an estate in the Lantana, Fla., area, for about $22 million in 2015. Another company tied to Mr. Joel also owns property in Sag Harbor, N.Y., records show.
Middlesea will be the most expensive home for sale in Oyster Bay, where the next priciest listing is asking $8.5 million, according to Zillow. In the first quarter, Long Island luxury sales were down by about 34% from the same period of last year, according to a recent report by Douglas Elliman.
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Ophora Tallawong has launched its final release of quality apartments priced under $700,000.
International AI strategist Justin Kabbani will headline the Kanebridge Property Summit in Sydney on June 18, with tickets selling fast.
Ophora Tallawong has launched its final release of quality apartments priced under $700,000.
3 min
Ophora Tallawong has launched its final release of apartments, positioning itself as one of the last opportunities for buyers to secure a new Sydney home below $700,000.
The project, located in one of the city’s fastest-growing corridors, is offering rare buyer protections at a time when affordability is tightening and competition for quality stock is intensifying.
According to JLL’s Q2 2025 Apartment Market Overview, Sydney’s median apartment price has already climbed to $795,000, setting a record.
With interest rates now on a downward trend and supply still heavily constrained, experts warn that today’s price brackets may not exist next year.
Ronnie Rahme, Development Manager at KDMC, said buyers were responding to the combination of quality and value.
“You simply don’t see this level of finish at these price points anymore,” Rahme said. “That’s why demand has been so strong for this final release.”
Dr Andrew Wilson, Chief Economist at My Housing Market, says the economic drivers are clear. “High rents and higher prices continue to provide clear incentives for first-home buyers and investors chasing solid investment returns,” he told Kanebridge News.
“New government initiatives to support first-home buyers will also act to place upward pressure on prices.”
The bigger picture
JLL’s research reinforces that point. While over 15,700 apartments are expected to be delivered nationally this year, a 40% uplift on 2024, Sydney remains undersupplied, with demand continuing to outpace completions.
The report also notes that reductions in the RBA cash rate are expected to further fuel buyer activity, with constrained supply continuing to push prices higher into 2026.
With construction costs soaring, Government contributions climbing, and interest rates remaining high, projects are harder than ever to bring to market, putting upward pressure on newly completed apartments.
The pipeline of new supply is shrinking as developers delay or abandon projects that no longer stack up financially.
According to JLL’s overview, only 2,554 completions are forecast for Sydney this year – against annual demand exceeding 30,000 dwellings.
At the same time, population growth, rental demand, and first-home buyer incentives are intensifying competition for limited stock. The imbalance between constrained supply and resilient demand is leaving new apartments scarcer and more expensive across Sydney.
Ophora: Last Chance In Sydney’s northwest
Developed by KDMC and designed by Architex, the $50 million project has launched its final release, with limited availability of 81 brand-new residences from just $500,000 for a one-bedroom, or $625,000 for a two-bedroom, which is far below Sydney’s median and significantly cheaper than nearby competition.
The five-storey development at 37 Reis St, Tallawong, combines affordability with premium inclusions more often seen in luxury builds: ducted air-conditioning, timber floors, premium finishes, fridge cavities with water plumbing, video intercom systems, fibre internet, EV charging, landscaped gardens and a rooftop terrace with sweeping views.
It also comes with something almost unheard of at this price point, a 10-year Latent Defects Insurance (LDI) policy. Typically reserved for multimillion-dollar projects, LDI guarantees structural integrity for a decade and is only awarded to developers with a strong building track record.
SHC Insurance Brokers founder Stefan Hicks acknowledged the rarity of obtaining LDI, particularly for entry-level residential apartment complexes like Ophora.
“Gaining LDI is no mean feat. It’s offered selectively to developers and builders with a quality building history, and it requires both parties to employ an independent inspection service throughout construction,” he said.
“While this insurance is well-established around the world in about 40 countries, in Australia, we’re typically seeing high-end buildings covet LDI. The fact that Ophora has joined this exclusive list of quality-assured builds is a coup for entry-level home buyers.”
Raising the standard for affordable luxury
Rahme says the KDMC team wanted to set a new benchmark.
“Our mission with Ophora has always been clear: to raise the standard of what buyers should expect, regardless of budget,” he said.
“We’ve delivered a collection of apartments with finishes and features you’d usually only find in luxury projects, and we’ve backed it with one of the most stringent insurances available in the market. That gives buyers peace of mind that their investment is protected for the long term.
“People are walking through and realising you simply don’t see this level of quality at these price points anymore, as it’s effectively replacement cost in 2025.
“With rates coming down and limited competition, buyers and investors are moving quickly because they know the window won’t stay open. Investors, who have recently purchased at Ophora, have reported a strong rental demand, with minimum rental yields exceeding five per cent.”
Developments like Ophora, move-in ready, competitively priced and backed by rare structural protections (LDI), may represent the last chance for buyers to secure a sub-$700,000 apartment in Sydney.
Contact Ophora to arrange a private viewing or request more information. View Ophora on realestate.com.au
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