Thursday, October 4, 2007

Billy Joel Buys Again

BUYER: Billy and Katie Lee Joel
LOCATION: Gibson Lane, Sagaponack, NY
PRICE: $12,999,000
SIZE: 1,500 square feet (approx.), 3 bedrooms, 2 bathrooms
DESCRIPTION: Oceanfront Sagaponack. Just renovated...beach cottage. 3 bedrooms and 2 full baths. New kitchen, baths and floors. The whole house is freshly painted white. "Potential" for new home with pool and finished basement on 1.6 acres.

YOUR MAMAS NOTES: According to Braden Keil in his recent Gimme Shelter column in the New York Post, mega rich singer and property maven Billy Joel has purchased another oceanfront property in swanky Sagaponack in the Hamptons. If the children will search the dark recesses of their minds, you'll recall that back in early June, 2007, Mister Joel forked over $16,500,000 to famed film actor Roy Scheider for a 5,000 square foot shingled ocean front house as a romantic gift for his wife Katie Lee. Ain't that sweet?

According to Keil, the notorious property hound, who has more houses than Your Mama can count on one hand, has reportedly gone to contract to purchase the property next door to the old Scheider place which was on the market for $12,999,000. Incorporating this property will give the couple another 1.2 to 1.6 acres (depending on the source), and another 140 feet of ocean frontage on topless sunbathing friendly Gibson Beach. Miss Katie Lee must be very secure that her man won't be sitting out on the veranda ogling all the tan titties next summer.

The new property includes a 1,500 square feet (approx.) shingled shack with 3 bedrooms and 2 bathrooms. Listing information states that the entire house has been freshly painted white, which is really the least one could hope for when purchasing a $12,999,000 house, even if it is just an obscenely expensive and crappy beach shack. Mister Keil reports that he hears the Joel's may turn the place into a recording studio.

When combined, the Joel's two property compound will encompass nearly three acres of prime ocean front property and will have cost him nearly $30,000,000. Which certainly sounds extravagant until you consider "Fair Field," industrialist Ira Rennert's 100,000+ square foot, 29 bedroom and 40 bathroom behemoth beach shack which is just a hop, skip, and evening stroll from the Joel's compound.

There are two more properties on Gibson Lane (not currently on the market as far as we know), and Your Mama has to wonder if Mister and Missus Joel are privately negotiating to purchase those properties as well. We haven't heard that rumor, but it certainly wouldn't surprise us at all.


Anonymous said...

do you mean two more properties on gibson lane for sale.. or total?

Anonymous said...

i just don't get the attraction of joel's gibson lane properties, compared to his oyster bay property that is for sale.
that place is awesome.
i wonder if he is going to live here??

Anonymous said...

Who wants to be in Oyster Bay when you can be living at the beach ... & the Hamptons are constantly rated as some of the best U.S beaches

Anonymous said...

The Hamptons are rated as some of the best beaches because people think that is what they are supposed to say.

I'll admit, SOME places...SOME, offer you peace and quiet and a sense of getaway, but more often than not, driving around out there is like being on Sunset Blvd at 5:30 pm in LA. And then you get to the house only to realize that the showy hedge fund boy who lives next door is having an adult version of a kegger.

Miss Scarlett said...

Roy Schieder is best known for being an actor, not a director.

Your Mama said...

oh hunny, you are correct. that's what happens when Your Mama writes after a few big and stiff gin and tonics, heavy on the lime. fixed. thanks.

Anonymous said...

Billy Joel and the Hamptons are part of why I left Long Island at the age of 18, lol. There is just no way anyone can justify these prices for a COTTAGE.

The beaches are NOT that great. I thought Long Island's beaches were heaven until I actually escaped the island, traveled and lived and experienced much nicer beaches. Siesta Key, FL is a million times nicer than any of the east end slivers of crunchy sand.

Anonymous said...

ah the hamptons - I had a friend who spent 40k for something like this in 1977, same beachfront, same town.... I wonder if he still has it?

It is getting a bit nuts out there, IMHO.....

Anonymous said...

mama, what is that MASSIVE compound between Fairfield Pond Lane and Peters Pond rd.??

Anonymous said...

thanks for giving us a hamptons update.

Ira Rennert said...

Might be a little late in the day but Anonymous was asking what that massive compound was between Fairfield Pond rd and Peters Pond lane, well it's my house! LoL