Real Estate

Farrell's $59.5 Million Dollar Bridgehampton Dream House

Andrea Aurichio

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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. Photos courtesy of Gary DePersia and Farrell Construction

Bridgehampton - Joe Farrell built a hundred homes in the Hamptons before he started work on the largest project he has ever undertaken, his new 30,000 square-foot home on Halsey Lane in Bridgehampton. The house is for sale for $59.5 million but Farrell is not really interested in moving out just yet.

Builder Joe Farrell. Photo courtesy of Lydia MacLear

The house has a bowling alley, a squash court, a children's playroom complete with a DJ booth, a karaoke stage and a dressing room. You can also climb a rock wall in the basement inching your way up one hand and one foot at a time until you reach the ceiling complete with a specially designed padded floor to cushion your fall should you miss one of the protruding ledges on your way up or way down.

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 house has nine bedrooms and 11 and half baths. One of the highlights of the first floor is the 10-seat mini-movie theater complete with interactive seats for family members and guest who tire of watching one of the many flat screen televisions. The walk-in refrigerator makes large scale entertaining easy.

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.

"I wanted to build a house that was equal to the property," Farrell said, pointing to the scarcity of land remaining in Bridgehampton.

"I wanted to build a house that was equal to the property," Farrell said, pointing to the scarcity of land remaining in Bridgehampton where even small building lots are hard to come by.

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."

Joe Farrell takes a moment out with his family at the beach in Bridgehampton.

"I didn't build this house to sell it," Farrell explained as he described his new home. Completed on May 1, the family moved in shortly after that. The house went on the market a few weeks later as word spread among the real estate community. "They all said there was nothing like this so I put it out there because there was so much interest."

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."

There's a lot to like. Collectors of fine wine will have plenty of room to store their stash in this house where the open floor plan makes entertaining easy.

There's a lot to like. Collectors of fine wine will have plenty of room to store their stash in this house where the open floor plan makes entertaining easy. Devotes of the Home Shopping Network and other shoppers will love the package room. This is where the Fed-Ex guy and the UPS man can drop off packages without entering the house stowing them safely in a small storage area accessible by its own outside door. The ultra sophisticated Crestron automation system will shoot you an email when a package is delivered just so you know what's going on at the house while you are out at the beach or in the city.

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."

The luxury home has its own two lane bowling alley, along with an elaborate playroom and Karoke theater.

The secret to his success as a builder? "I get the best guys, I pay them right away and they work for me. I am the fastest payer in the industry," Farrell surmised. Normally a house the size and scale of Farrell's new digs would take a crew at least three to four years to complete. "I am a type "A" builder. I get it done," he said. Farrell broke ground on Halsey Lane on Nov. 1, 2007.

"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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Comments

Guest (george B) from spokane wa says::
Are U kidding me 59mil for that?
Apr 18, 2013 2:50 pm

barry

barry says::
No barn. Too bad.
Jan 3, 2013 5:24 pm

Guest (Lost funds) from Sad town says::
So this is where all the retirement money went from Wall Street. Commodities traders, really.. This is excessivness beyond comprehension. Makes me ill to see it. My p.o box is 1234 get real.
Dec 31, 2012 12:56 am

Guest (thomas) from new jersey says::
to katie younglove from denver -yes kids are starving in africa and elsewere which i agree is a tragedy and if joe didnt build this house kids would still be starving in africa = i get so tired of hearing this same argument that if people dont spend money on something that it somehow helps out the impoverished- there has been tons of money that pours into africa for yrs and the people are still starving why? corrupt governments, distribution ect to much to go into here its complicated and no easy solutions but money isnt one of them
Sep 26, 2012 3:49 am

Guest (rich) from ca says::
He's only 46? Man he looks 66. Must have a lot of stress in his life.
Sep 15, 2012 1:37 am

Guest (Angelica) from COLOMBIA says::
They are a great family. I was Kate's counselor, the Joe's daughter the last year and she is a super sweet girl.
Jul 29, 2012 3:52 pm

Guest (SHARAIN JONES) from VERMONT says::
THE KIDS ARE JUST AS GREAT AND KIND AS THEIR PARENTS. NOT ALL RICH KIDS HAVE LITTLE OR NO VALUE. EVEN THE YOUNGEST SAID PRAYERS FOR ME WHEN I WAS TAKEN FROM THE FARRELL HOME VIA AMBULANCE FOR CHEST PAIN. THIS FAMILY IS VERY LOVING AND CARING. I AM PRIVILEGED TO KNOW THEM. NO, I AM NOT EVEN CLOSE TO RICH IN MONEY.
Jul 22, 2012 9:29 pm

Guest (guest) from lafayette TN says::
Good for Joe Farrell and his family. The envy of so many posters here is disgraceful. You have NO idea what this family may do or give to the charities of THEIR choice. Contrast that with what this Obama generation would do: tax the crap out of everyone to give to their special interests. Envy is one of the cardinal sins. I am happy for this man. He looks to be a GREAT guy!!
Jun 26, 2012 3:38 pm

Guest (Sean) from Southamton ny says::
Looks good joe
Apr 17, 2012 7:02 pm

Guest (Liliana) from Sag Harbor says::
What a dream land! I am a Massage Therapist and it would be a pleasure to be part of the Spa.
Apr 4, 2012 12:46 am

Guest (Candy) from Houston, TX says::
Why are so many people complaining about a hard working man living his life to the fullest. Not only is he living to the fullest but he's taking care of his family. There is no crime in doing what makes you happy if you can. If you go to work, make your money (honestly) save wisely, you can spend and slurge every now and then whenever you want. God bless him.
Mar 11, 2012 8:19 am

Guest (Sharain) from West Dover says::
I know the Farrell's are very loving generous people. I think people that are commenting negatively are just envious. If someone makes the money then they should be able to spend it as they wish.
Mar 5, 2012 4:03 am

Guest (bob) from north fork says::
only 1/3 the size of the homes in newport
Sep 17, 2011 1:54 am

Guest (Artie) from Roslyn, NY says::
I was an energy trader working with Joe on the exchange floor in the 1980s and 90s. He was a wonderful good humored, generous, intelligent, friendly and accessible. He always treated the support staff with the same respect as he extended to other traders. In short, he was one great guy. It is quite gratifying to see that he succeeded, and greatly succeeded, when chasing down his dream. You go, Joe!
May 12, 2011 1:33 pm

Guest (jbear) from The Woodlands says::
To Joe the Plumber in Southampton, That's what's so great about being an American. Joe Farrell worked hard and earned the money to start his own business and he's obviously good at building or he wouldn't be so successful. He deserves to spend his money the way he wants to...that's called freedom!
May 6, 2011 1:51 am

Guest (Michelle) from Grand Rapids Mi says::
I have never been to the Hamptons or NY. Saw this on HGTV. Quiet impressive. Do the kids need so much? If this is all they are exposed too, what will they turnout to be? Applaud your skills, but......
May 5, 2011 11:14 pm

Guest (shark) from 61701 says::
I just saw this home on HGTV. The were showing homes with million dollar rooms. They showed a tour of the basement. It was designed first and the top of the house was designed to fit over the basement. He and his wife seemed okay in the interview. However, they have an ATM in the poker room so no one can leave with paying. That is strange....
May 5, 2011 10:51 pm

Guest (Katie Younglove) from Denver says::
Starving kids in Africa! eish...
May 5, 2011 10:44 pm

Guest (Joe the plumber) from southampton says::
This guy lives like a king while the men who do really good work for him barely make a living. Sad how he thinks life is short. Guess it is for him since he doesnt plan for his eternal life threw the lord. One should not plan for life here on earth but for the life we are promissed in eternal heaven !!!
Apr 6, 2011 4:49 am

Guest (Eileen More) from Commack says::
The home is absolutely beautiful.......... Never in my wildest dreams would I be able to even drive down that rode. It the blog they say he is a great guy, that is nice to hear that someone with so much money is such a great guy..... God Bless Him and His Family
Mar 9, 2011 2:52 pm

Guest (Karen) from Mexico says::
you can enjoy of the whole house tour in www.mtv.com/shows/teen_cribs/ If you have problems finding the right video, you can look for Lindseys and Ryands crib
Dec 19, 2009 10:25 pm

Guest (karen) from Mexico says::
You can see the best rooms, and thewhole house tour in www.mtv.com/shows/teen_cribs
Dec 19, 2009 10:17 pm

Guest (Mark) from San Francisco says::
Lauren from NY: That was my first impression also...that it was a townhouse development... Too bad that Hundertwasser was not alive to help design a fitting piece of modern architecture for this pricey parcel. The exterior is so square and typical - even the swimming pool has four corners.
Nov 2, 2009 4:43 pm

Guest (Lauren) from Wisconsin says::
I'm interested in the walk in refrigerator. I too have a walk in refrigerator but am having issues with the door. Any help in the engineering of it would be helpful.
Aug 13, 2009 1:40 pm

Guest (JUJUBABE) from LOUISIANA says::
Joe, I'm a struggling girl who could use a little generosity. Send it to PO BOX 1481, PARADIS, LA 70080. A cashiers check would do fine!!
Jul 27, 2009 8:55 pm

Guest (neil) from hampton bays says::
build it and they will come? whos they? it looks like a resort hotel, not to be lived in
Jul 26, 2009 10:05 am

Guest (redman) from southampton says::
Joe Farrel is a top notch man.
Jul 24, 2009 6:08 pm

Guest (jimbo) from pittsburgh says::
joke! Another rich snob who lives like a king.. Way to much of a gap between the have an the have not's! It's a shame in this great country of our's. us army and proud of my country,
Jul 23, 2009 3:44 am

Guest (Kady Fox) from JAX, FL says::
Sadly, my entire house would just fit in this man's pool. The house he has built for himself and his family, is magnificent.
Jul 19, 2009 4:29 pm

Guest (joseph ciorra) from howard beach says::
any home located on long island so close to the water, in todays current climate changes and what we are seeing every day is telling us beware, is really dumb .we should be building homes that would survive floods and be totally self sufficient and not rely on electricity but alternative sources like an 80,000 watt solar system ,solar air conditioning/heating,solar water heater, and maybe even blue solar and green solar lighting,the home constructed of recycled tungsten steel and metal alloy.aluminum,toughened voltaic glass. its own under earth green house,and its own submarine attached to the property,for 60 million id say that would be worth every penny
Jul 18, 2009 6:50 pm

Guest (Paula) from New Jersey says::
You have to be kidding. A bit over the top...houses like this is why there is no space left on the East End. It is a shame that the town allows this much to happen on one piece of property.
Jul 18, 2009 10:36 am

Guest (Jonathan) from Coral Gables says::
It would be a suitable addition to my collection if it were only for sale. I need something with a northern feel.
Jul 18, 2009 10:12 am

Guest (carl b) from sag harbor says::
Good story- best writer on the site.
Jul 18, 2009 9:46 am

Guest (real estate agent) from sagaponack says::
interesting story about one of the players in the East End market where real estate is a a strange and fascinating occupation always captured so well by Andrea Aurichio. She writes with an eye for houses, design and market conditions. Outstanding- nice to read what a pro writes.
Jul 18, 2009 8:36 am

Guest (Patrick) from Bridgehampton says::
Who said he's selling it? It merely says it's on the market for $60 million. I'm not selling my house either, unless of course someone was willing to pay me $60 million. It's FREE ADVERTISING.
Jul 17, 2009 2:18 pm

Guest (Lauren) from NY says::
Sadly, Farrell's house looks like an upgraded row of townhouses. It would have helped to have changed the roof line up to blur the harsh lines.
Jul 14, 2009 5:06 pm

Guest (Michele) from Nassau County says::
" I Will buy it"
Jul 14, 2009 3:52 pm

Guest (curiousreader) from hamptons says::
The house is even more spectacular in person, and so much thought went into it, it was as it was built with love. I question myself, why would you sell it when clearly you built this house with your kids in mind. It is very warm and kid focused.
Jul 13, 2009 3:23 pm

Guest (Andrea Aurichio) from Southold says::
The photos are courtesy of Joe Farrel. I did not take this pictures.
Jul 13, 2009 9:00 am

Guest (Lisa) from NJ says::
The house is lovely....but after building your dream house....why is he selling it?? its a bit confusing, can anyone shed any light??
Jul 12, 2009 10:26 pm

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