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Real Estate Star Joe Farrell On Giving People the Homes They Really Want

Joe Farrell is one of the few people who is changing the face of high net worth real estate — more specifically, moderate luxury estates from three to $10M in the Hamptons. Because the Hamptons isn't a very large area, land is at a premium, and much of that land is being developed by Mr. Farrell  (so much so there has been talk of the "Farrellization of the Hamptons").

In 1995, Mr. Farrell left his position as a member of the New York Mercantile Exchange to build homes, founding Farrell Building Company and breaking ground on his first home in Brookville, New York. A year later, he set his sights on building residences in the Hamptons and has since created the fastest growing building company in that area. Currently living in Bridgehampton, New York, Mr. Farrell's success has not been without controversy.

Hampton McMansions Herald A Return To Excess, an August 2013 article in the New York Times by Jim Rutenberg, characterized Joe Farrell as a "McMansion Man" — someone who builds homes quickly, with each one looking identical to the others. This is a sobering sobriquet, and one that carries certain quarrelsome components that can be argued in a multiplicity of ways. Yes, Mr. Farrell specializes in properties that typically range between $3-$6M, because as he says, there are many more people who can afford this price range. And yes, he is building a lot of homes. By his own admission, rather, it's a statement of pride, as he has over 60 projects underway. He boasts that he can build an estate home on a budget, in under a year. Many of his properties are selling before they're even completed.

When I asked Mr. Farrell about the article, he had nothing negative to say and even complimented the writer's writing. He stands by the fact that his success comes from building the houses people want.

Susan Kime

Susan Kime's career combines publishing, journalism and editing. She was the Destination Club/Fractional Update Editor for Elite Traveler, and senior club news correspondent for The Robb Report's Vacation Homes. Her work has been published in Stratos, Luxury Living, European CEO, The London Telegraph, Caviar Affair, ARDA Developments, and Luxist/AOL. She was the Editor-in-Chief of Travel Conno...(Read More)

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