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Sandcastle Builder Joe Farrell Not a Fan of the Ocean, Renters

[No ocean in sight of this sandcastle; Photo courtesy Corcoran]
This week, Hamptons Online profiles builder du jour Joe Farrell and his mega-mansions that have become staples of the East End's real estate scene. Farrell, as it turns out, has taken to living in his $59.5 million Sandcastle Estate while it sits on the market, and he's loving every minute of it. The former Wall Street exec moved his family into the Bridgehampton home upon its completion in May with no intention to sell it, until the interest surrounding it became too intriguing. (Which might explain the hastily written listing.) With brokers abuzz about a non-oceanfront home of this size, Farrell put it on the market, perhaps hoping to find a kindred ocean-hater like himself. Quoth Farrell: 'I don't like the ocean because I live here all year. The wind on the beach is bad in the winter.'

While the Jonas Brothers were rumored renters of Farrell's beloved Sandcastle back around Memorial Day, he says there's no truth to that. Renters, as it turns out, aren't really an option for the father of three young children. He tells the site 'he turned down a number way north of $1 million for a summer rental with an option to buy a few weeks ago.' His reasons: 'I don't need the money, and I just can't move my family out for the summer like that.' Fair enough. He will relent to a two-week rental sometime before Labor Day for those willing to shell out $495,000 for his hassle.
· Farrell's $59.5 Million Dollar Bridgehampton Dream House [Hamptons Online]
· Listing: 612 Halsey Lane [Corcoran]