Shingled Water Mill mansion, also available for rent, lists for $10.5M

An 8,500-square-foot Water Mill home built in 2012 by Farrell Building Company, a top Hamptons homebuilder, has hit the market for $10.5 million, according to Curbed. The home at 167 Montrose Lane has seven bedrooms, eight bathrooms, coffered ceilings in the great room, a second-floor private balcony for the master suite overlooking a nearby nature preserve, billiards room, gym and staff quarters. The 1-acre property, which is also available to rent for the summer, has a pool, spa, outdoor kitchen and large patio. The land was last bought in 2011 for $2.6 million and a year later the home was finished. The listing is held by the Corcoran Group’s Gary DePersia, a top East End broker who has several big-ticket residential properties on the market. [Curbed]