Jay-Z and Beyonce rent Farrell’s “Sandcastle”

July 30, 2012 08:30AM

While still searching for a $43.5 million buyer, East End builder Joe Farrell’s “Sandcastle” estate in Bridgehampton has found a famous family to rent it. Jay-Z and Beyonce are leasing the 31,000-square-foot home on 11 acres of Halsey Lane for August at a cost of $400,000, the New York Post reported.

The home, completed in 2009, has a 60-foot heated pool with a stereo system, a basement with a skate-boarding half-pipe and a gym, spa and basketball court, a bowling alley, an eight-car garage and a separate two-bedroom apartment.

Though it’s not quite the $500,000 Cheryl Mercuris, a direct-marketing executive, paid to rent it for two weeks in 2010, it’s still a staggering price achieved for listing agent Gary DePersia, a senior vice president at the Corcoran Group. [Post]