Billy Joel sells waterfront Manalapan property

Billy Joel sells waterfront Manalapan property

Monday, April 9, 2018

Billy Joel and 1940 South Ocean Boulevard (Credit: Flickr)

He’s got a way with real estate.

Singer-songwriter Billy Joel just sold a vacant lot next to his Manalapan mansion for $7.5 million, property records show.

South Ocean Living LLC sold the nearly 2-acre property at 1940 South Ocean Boulevard to UM RE Holdings LLC, a company owned by Frances Mennella. The seller is managed by Wellington attorney Frank Gonzalez, who has represented Joel in the past.

Early last year, Joel relisted his estate next door at 1920 South Ocean Boulevard for $18.5 million and the lot that just sold for $9.5 million. He paid about $18.3 million for the properties in 2014.

The Piano Man reduced the price for the mansion to $16.9 million, according to Redfin. It’s on the market with Pascal Liguori and William Koch of Premier Estate Properties.

In February, Joel and his wife Alexis Roderick bought a horse ranch in Wellington for $3.5 million.

Mennella, the buyer of the Manalapan lot, leads a natural gas distribution company in Pennsylvania, according to Virtual Globetrotters, a website that tracks celebrity homes. In 2016, he and his wife paid $25.2 million for a waterfront spec mansion at 1400 South Ocean Boulevard.

The Palm Beach Daily News first reported the sale.

Source: The Real Deal