'Android Studio Bumblebee: Gradle sync failed

After upgrading to Bumblebee, some of my projects now show this:

The specified Gradle installation directory '/Applications/Android Studio.app/Contents/gradle/gradle-2.14.1' does not exist.

How can I solved this issue? I have tried some old solutions (eg Android Studio - Gradle sync error on gradle-diagnostics-X.X.X.jar) and does not seem to work. Also tried clear cache and restart.

Solution 1:^[1]

Go to Android Studio Preferences ? Build, Execute, Deployment ? Build Tools ? Gradle.

Change the "Use Gradle from:" option from "Specified location" to your properties file.

_{(Screenshot provided by Mike)}

Then, click "Try Again".

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Solution	Source
Solution 1	Cody Gray