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Builder Joseph Farrell continues to make his mark on the Hamptons landscape. The owner of Farrell Building Company purchased a 5-lot subdivision in Bridgehampton on February 12 from Brooklyn-based developer David Walentas. He has since begun building new luxury homes on the vacant land.
At a little more than 12 acres in total, the subdivision reportedly sold for $11.7 million. Located on Polo Court at Two Trees Farm on Hayground Road, each house will sit on a 2-acre lot and range in size from 6,500 to almost 8,200 square feet.
“We started framing the first house (lot 1) on March 18, which went into contract on April 3,” explained Travis Tinker, assistant operations manager at Farrell Building in an email on May 14. Since then, construction on lots 3 and 5 has begun, and lot 4 is about to go into contract.
The 8-bedroom, 10-bath homes will feature double-height entries, 3-car garages, multiple fireplaces, and finished lower levels including gyms with spa-like baths, recreation rooms, optional home theaters and a pair of staff suites.
Ranging in price from $8.9 million to $9.9 million, each will come equipped with a sunken tennis court, heated gunite pool and spa, and a finished basement.
Mr. Walentas, owner of Two Trees Farm as well as a development company by the same name, divided up his 115-acre property into separate listings based on a 19-lot subdivision that won approval from the Southampton Town Planning Board last year. One of those listings is a 65-acre horse farm, which includes equestrian facilities and agricultural reserve, on the market for $25 million with Morgan White of Douglas Elliman. It has been home to the annual Mercedes-Benz Polo Challenge.
The remaining subdivided lots are on the market in several separate packages. On Wednesday, in fact, Brown Harris Stevens announced that Mr. Walentas was going to build 12 new estates on his property. Eleven of the homes will be built on lots of 1.8 to more than 3 acres, and one will offer “9.7 acres of open space and bucolic farm views.”
Home to a historic dairy farm, where cows grazed up until the 1950s, the Two Trees property was known for generations as the Carwytham Farm. It was run by the Baldwin family until Daniel Baldwin, a potato farmer who had added some stables and riding rings to the property, sold the land to Mr. Walentas for $2 million in 1993.
on May 22, 2015