Prominent Hamptons developer Joe Farrell has hired Saunders & Associates to market 19 of his properties worth a combined $200 million, including his Sandcastle mansion that once hosted Beyoncé and Jay-Z, the New York Post reported. Farrell, of Farrell Building Co., considers the mansion his dream home and is asking $49.995 million for the property. The 17,000-square-foot home has 10 bedrooms, 15 bathrooms, a baseball field, a planetarium and a bowling alley, among other amenities. It previously listed for $59.9 million in 2009. In 2018, Farrell’s then 18-home inventory sold in a quick six months. “I call it the ‘Trump bump,’” he told the Post. “Inventory sold so fast that I had to work quickly to replace it.” A 17-member team from Saunders will seek to quickly move his portfolio again, the company’s founder, Andrew Saunders, told the outlet. Farrell, who earlier this year secured $65 million in financing for a luxury rental project in Central Islip, is building two more homes in Bridgehampton at 51 Sandpiper Lane, which will be his residence, and 65 Sandpiper Lane, which has an ask of $14.9 million. [New York Post] Correction: This item has been amended to reflect that the asking price for Sandcastle is $49.995 million.
After ‘Trump bump,’ Farrell taps Saunders to market $200M in homes
TRD NEW YORK /
Apr.April 10, 2019 04:30 PM