Billy Joel's 26-acre estate in the upscale village of Centre Island, about 40 miles east of Midtown Manhattan, is now up for sale. And if you thought the house was expensive, "You May Be Right"... the current price tag is $49 million.

Known as Middlesea, Joel has lived at the estate for "The Longest Time" -- 21 years to be exact, first purchasing the home in 2002 for $22.5 million. The original property consisted of a much smaller 14 acres, but over the years Joel purchased adjacent lots to increase the total acreage to its current 26.

During the last few years, the "Piano Man" had reportedly been renovating parts of the home with the intention of selling, and apparently that time has come. More recently Joel has been living in Florida.

The 5-bedroom home is described as an "extraordinary one-of-a-kind waterfront estate," and inside there's even an elevator that services all floors.

Along with the main house, there's a 3-bedroom beach house and a 3-bedroom guest apartment on the property, along with a pool, floating dock, boat ramp, and a helicopter pad for when your friends fly in. The sale is being handled by Bonnie Williamson of Daniel Gale Sotheby’s International Realty.

If your wife has been wanting to move to a bigger place, perhaps you should "Tell Her About It"!

But if you thought Joel was leaving his "New York State of Mind" behind, think again. He still owns a horse farm on Long Island and a house in the Hamptons.

Take a closer look at Billy Joel's $49 million Long Island home for sale in the gallery below:

Billy Joel Asking $49 Million for Long Island Home

He bought the 14-acre North Shore residence for $22.5 million in 2002.

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