Top Hamptons developer slashes price on ultra-luxury “Sandcastle”
Sandcastle originally went on the market for $59.5 million, according to Curbed, and after the most recent $7 million price cut, it’s down to $42.5 million.But the estate hasn’t just sat empty this whole time. For the past two summers, millionaire Cheryl Mercuris has rented the home in pursuit of finding a rich.
Farrell’s signature cookie-cutter McMansions have transformed the Hamptons’ high-end home market, where ultra-luxury sales have slumped so far this year. The purchase price for the Sandcastle has ebbed-and-flowed with fluctuations in the market. Farrell first tried to sell the property in 2009, again in 2011 and 2016, and most recently in 2018.
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Top Hamptons developer slashes price on ultra-luxury "Sandcastle".
Follow curbed hamptons online: subscribe. builder Joe Farrell’s beloved/loathed Sandcastle has been chopped. According to StreetEasy, the 31,000 square foot bridgehampton estate lost $10 million this morning, bringing its price down from $59.5 million to $49.5 million.
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