Bridgehampton ‘Teen Crib’ rents for $500K for two weeks

A Bridgehampton vacationer has paid $500,000 to rent luxury homebuilder Joe Farrell’s 31,000-square-foot Sandcastle home for the first two weeks in July. That works out to $35,000 per day, or as the renter’s agent, Evan Kulman of the Corcoran Group, put it, “the highest rental transaction ever in the Hamptons.” Farrell currently lives in the nine-bedroom, 11-and-a-half-bathroom home, on the market for $49.5 million, with his family. The 612 Halsey Lane mansion, which isn’t on the water, sits on a 11.5-acre lot that includes a two-lane bowling alley, a climbing wall and a skateboard half-pipe. Last summer, MTV’s “Teen Cribs” filmed an episode there and a representative for the Jonas Brothers checked out the place on their behalf, though the boy band decided against renting it. The home was eventually rented to another taker for two weeks last August for $425,000. Farrell first listed Sandcastle for sale for $50 million last year, then increased the price to $59.5 million before the latest price cut. [Newsday]