We hear that Long Island treasure Billy Joel has dropped the price on his Manalapan, Fla., property by a million dollars to $18.5 million. The beachfront, Mediterranean-styled home at 1920 South Ocean Blvd., which Joel bought in 2014, was built in 2005 and recently renovated.

It has seven bedrooms and 7½ baths, and its features include verandas, marble bathrooms, a brick, barrel-vaulted chef’s kitchen and a private dock. A friend of the Piano Man tells us that Joel and his wife, Alexis (who last year had a daughter, Della Rose), “loved the privacy the home offered, and the ocean and intracoastal access.

The house was used as an inspirational place for Billy to go to and write music and relax.”

Joel, who has homes in Oyster Bay and Sag Harbor, also owns the vacant lot next door  at 1940 South Ocean Blvd., and it’s also on the market, for $9.5 million.

The two properties can be had for $27 million. The listing broker is Jack Elkins, of The Fite Group.