The New York Observer reports that Billy Joel has sold his West Village home to his ex, Katie Lee Joel, to the tune of $3M. The couple bought the home in 2005 for $5.9M. Ms. Lee Joel bought him out of the house as their divorce proceedings unfold.

Apparently, the best way to avoid losing money in this real estate market is by selling to your wealthy ex!

Meanwhile, Billy Joel continues to enjoy life with his new girlfriend, Deborah Dampiere. He really is a hopeless romantic...or just a serial monogamist who can't help himself!

Check out our galleries of the worst divorces in music history here.