$40M Hamptons Estate Finds a Tenant in 24 Hours

Published: April 16, 2020 | By: American Luxury Staff

A well-to-do Manhattanite has found the ideal place to ride out this charming little bug we’ve been blessed with: this $40 million estate on Long Island.

The estate—which is named, whimsically enough, Sandcastle—was built in 2008. Its history as a rental fixture on the ultimate seasonal Hamptons rental market was established in 2012, when celebrity couple Jay-Z and Beyoncé spent a little time there. In 2016, it asked upwards of a million a month for the high season.

Presently, however, the home’s rent is $2 million for a six-month stay. With 11 bedrooms—including a 2,800 square foot master—13 baths, and 17,000 square feet of interior living space to wander about in, the main house can easily accommodate an extended family. The lavishly meandering interiors are augmented by 2,000 square feet of porch space. And the property also features a guest house that’s large enough for comfort: 2,400 square feet, with a private pool.

All of this living space is supported by the grounds, which extend to 12 acres, enough space to fit a baseball field, a 60’ by 20’ heated pool (gunite, of course), and large swaths of lawn. The property’s other amenities include a large home cinema with an LED star field ceiling, a bowling alley, a lounge with a wet bar, an auxiliary wet bar on the second floor, a tennis court, a racquetball court, a full gym, and a wet bar in the guest house.

The property belongs to Hamptons developer Joe Farrell. He’s asking $40 million for it—down from $50 million.

3684 April 16, 2020 Real Estate April 16, 2020