Bridgehampton, New York, New York!!!
Price Guide: $59.5 MillionNot sure it's still for sale, but I'm just saying...
The amiable builder adheres to a 'life is too short' philosophy that is reflected in his no expense spared approach to home construction.
You can play a few rounds of virtual golf and skate board on a specially designed indoor half pipe. After that you can relax in a massage room, soak in a hot tub or hit the Jacuzzi and sauna after you work out in the gym. No expense has been spared in creating this full home spa that rivals many professional operations.
Clearly this is no ordinary house but then Farrell is no ordinary builder. The house is a real estate broker's dream as well as a buyer's fantasy come true. Brokers often say the best house to buy is the house a builder builds for himself. That's when no expense is spared and no detail is overlooked as the house approaches state-of-the-art perfection.
The detailing is meticulous right down to the decorative moldings and tile work. The kitchen is to die for even if all you do is boil water. The pool house befits the 60 by 20 foot heated gunite pool complete with electric pool cover and underwater stereo system. The set up gives new meaning to sitting by the pool on hazy summer days when the ocean is too dangerous and the bay is filled with jellyfish.
The house alas, is no where near the ocean or the bay, a factor that does not seem to deter Farrell or the enthusiastic brokers who want to sell this house as the Farrells get comfortable enough to enjoy a July barbeque or two.
The amiable builder adheres to a 'life is too short' philosophy that is reflected in his no expense spared approach to home construction. "I hired the guy who programs the planes for the King of Saudi Arabia to work on the electronic and computer systems in the house," Farrell recounted. He also hired an architect who worked on the Ritz Carlton in Palm Beach to come in and create the spectacular playroom area in the basement. A 100 man crew worked six days a week for a year-and-a-half to complete the understated manse that sits on an 11.5 acre flag lot in agricultural reserve.
Rumors that the Jonas Brothers are renting the house this summer are not true according to Farrell who notes he turned down a number way north of $1 million for a summer rental with an option to buy a few weeks ago. "I don't need the money, and I just can't move my family out for the summer like that," Farrell said. The house is available for two weeks of your choice this summer for $495,000.
Gary DePersia of the Corcoran Group is one of the high powered Hamptons brokers involved in the process of selling Farrell's house. He is as enthusiastic about the house as its builder. "There is nothing like in on the market. It is a beautiful home." DePersia said.
The 46-year-old former Wall Streeter who once worked on the commodities exchange explained he had always wanted to be a builder. "I couldn't do it until I was 31. I needed the money to buy land, so I made a lot of money so I could afford to buy land. Then I started building, Farrell said. "I love it. I followed my heart."
Having built his first house in Upper Brookville before entering the Hamptons market in 1996, Farrell now lives as a year-round resident. "I don't like the ocean," he said, "because I live here all year. The wind on the beach is bad in the winter."
If you Build It, They Will Buy It
According to Farrell, who is no stranger to the high end of the market, you must understand the psychology of the rich and the very rich when you build luxury homes.
"The most important thing to a billionaire is time," Farrell said. "The beauty of my house is that they can move right in. It takes four or five years to build a house like this. These are people who know they are not going to outlive their money. So if they see something they like and they want it, they will buy it."
The 2,800 square foot master suite on the second floor is a perfect retreat when you tire of the seductively paneled library on the first floor. You can sit upstairs and watch the impressive train set, the kind that bedazzles hobbyists who spend hours in their basements playing with their railroad cars, miniature houses, depots, trees and assorted street props that populate a miniature city, on television in the living room if the luxurious basement bores you or you want to join the rest of the family as they huddle around the fire. Control the lights and temperature in the house from a computerized touch pad on the walls in most of the rooms. ( "The house is too big to have to go walking from room to room to turn off all the lights," Farrell said.)
"I only work with the best and the smartest brokers," Farrell said. He is not worried about selling it. "I wanted to build a beautiful house for my family. I enjoy the bowling alley. We had eight couples over for dinner the other night and we went bowling. I love to play squash. I don't drink or go to bars. I stay home. These are all the things I wanted to have in a house."
Gary DePersia, a superstar broker at the Corcoran Group is representing the property for Farrell along with a handful of other brokers selected by Farrell. DePersia is as enthusiatic about the property as its owner-builder. "There is nothing like this in the Hamptons," DePersia said and this high-end broker has seen it all over the years. "The property is great, and the house has all the amenities
and then some."
"I love being a builder," Farrell, the man who followed his heart to success, says with contentment. No job is to big or too small for Farrell Construction which recently completed a 2,400 square-foot house in Southold. That's on the North Fork. "I'll do anything reasonable," said the man who loves to build houses. "You get a great sense of accomplishment when you finish building a house."
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