In Manalapan, Florida, one couple is striking the high note on a property that once belonged to the Piano Man himself.
A waterfront estate built on land formerly owned by Billy Joel is coming to market with an $84.88 million price tag, the latest in a string of eye-popping listings in this exclusive enclave just south of Palm Beach, according to the Wall Street Journal.
The roughly 23,000-square-foot residence, situated on about 2 acres, was developed by Frank A. Mennella, a retired automotive warranty executive, and his wife, Dolores, who purchased the empty parcel from Joel in 2018 for $7.5 million.
Though they lived in the home for several years, the Mennellas tell The Journal they always saw the project as an investment.
The couple has a track record of flipping trophy properties in Manalapan, having sold a nearby estate last year for about $48 million, according to public records.
Their latest effort blurs the line between private residence and five-star resort.
Designed with the scale and amenities of a luxury hotel, the three-story home includes five bedrooms, 13 bathrooms, multiple bars, a spa wing with massage and steam rooms, a bowling alley, a movie theater, a 1,000-bottle wine cellar and even a craft room.
One of the property’s most distinctive features is a private tunnel under State Road A1A, connecting the main house to a beachfront cabana spanning roughly 1,200 square feet.
Like other estates in Manalapan, the property enjoys frontage on both the Intracoastal Waterway and the Atlantic Ocean — a dual-coastline setup that’s become one of the area’s defining, and most valuable, traits.
Listing agents Philip Lyle Smith and Carla Ferreira-Smith of Luxury Resort Portfolio said the home is being sold fully furnished, including much of its art collection.
Manalapan, home to fewer than 500 residents, has seen a surge in ultra-luxury demand since the onset of the pandemic.
Property values have more than doubled in some cases, buoyed by record-breaking deals like Oracle co-founder Larry Ellison’s $173 million purchase of a historic estate in 2022 and a $285 million ask on a new spec mansion currently in the works.
As for the Mennellas? They’re already thinking about their next move, telling the Journal they like to move every five years.