Andrew Farkas splits with second wife

Billionaire Andrew Farkas has called it quits with his second wife, Sandi.

Farkas, founder of Island Capital Group, divorced Sandi earlier this year, Page Six reported. The two had been married for 15 years and have two sons together. The real estate bigwig is reportedly dating a 22-year-old senior from his alma mater, Harvard University. The two were spotted together in the Hamptons.

Farkas paid his wife a hefty settlement, roughly three times what was necessary, a source told Page Six. The details of the settlement were not immediately available. In June, the couple listed their Upper East Side townhouse at 12 East 73rd Street for $42.5 million. At the time, brokers indicated that Farkas was putting the home on the market for personal reasons.

He also owns the Montauk Yacht Club and a mansion in North Haven. His now ex-wife has bought a home in Sag Harbor. Island Capital, which he founded in 2003, owns controlling interests in companies that manage $180 billion in assets, according to the company’s website. In 2011, the merchant bank became a significant stakeholder in Grubb & Ellis. [Page Six] — Kathryn Brenzel