After finally getting a full offer on the $43.5 million, 12-bedroom Bridgehampton mansion known as Sandcastle, its developer, Joe Farrell, is taking it off the market, Gimme Shelter has learned.
Farrell, who has rented Sandcastle to celebrities including Jay-Z and Beyoncé, built it in 2009 as a dream house for his wife Kristen and their three children. But his family wanted to stay until the kids are in college. “I’m a deal maker. It was a very tough decision,” Farrell said.
The 26,500-square-foot home on 11½ acres will still be available as a summer rental. It comes with a guest house, pool, tennis court and baseball field outside; inside is a two-lane bowling alley, rock climbing wall, DJ booth, spa and gym, plus a combination squash, racquetball and basketball court featuring moving walls and retractable hoop.
Gotta getta Gund
The estate of the late George Gund III, an owner of the NHL’s San Jose Sharks and the NBA’s Cleveland Cavaliers, as well as chairman of the Minnesota North Stars, has put his two-bedroom, two-bathroom prewar penthouse at 1120 Fifth Ave. on the market for $6.25 million.
The building’s current residents include Michael J. Fox and Tracey Pollan. The listing brokers for his co-op are Bonnie Chajet and Ronnie G. Lane of Warburg Realty.