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Builder Joe Farrell's Outrageous Sandcastle Sheds $7M

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When it's not playing host to Cheryl Mercuris' $35,000-a-day vacation, Bridgehampton's Sandcastle serves as builder Joe Farrell's private residence. However, Farrell has been trying to unload 11.5-acre spread for the past few years now, with the property originally asking $59.5 million. Definitely not your average sandcastle! And while the spread's lofty rental income might help maintain the home's 31,000 square feet of living space, that hasn't stopped the price from washing away every so often. In fact, the Sandcastle actually just shed another $7 million, meaning the estate is now at a $17 million discount from its original price. Looks like the Sandcastle is just as eager to meet its match as Mercuris is!

· Listing: 612 Halsey Lane [Corcoran]
· All Sandcastle coverage [Curbed Hamptons]