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Latino Daily News

Tuesday June 11, 2013

Billy Joel Sells Miami Mansion - So Who’s the Big Spender?

Billy Joel Sells Miami Mansion - So Who’s the Big Spender?

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Billy Joel has sold his multimillion dollar Miami mansion to a fashion mogul.

The “Piano Man” has reportedly sold his 8,881-square-foot La Gorce Island mansion to Diego Della Valle for a bit below $14 million.

Though he bought the waterfront home for $13.6 million in 2006, Joel will still take a loss after paying commission fees.

The 7-bedroom, 8.5-bath Mediterranean-style mansion first went on the market in May 2012 for $14.75 million. The home also features a gourmet kitchen and wine cellar. Outside is just as impressive with a pool, summer kitchen, covered seating, and stone terraces that overlook Biscayne Bay.

ImageCelebrity neighbors include Cher and rapper Lil Wayne.

As for the buyer, Della Valle is the majority shareholder in Saks Fifth Avenue and is the President and CEO of Tod’s shoes. He is worth a reported $1.55 billion.

He also sits on the board of a number of companies, including Maserati, LVHM, and Ferrari.