Hamptons Home Developer Finds Full-Price Buyer at $43.5M, and then Says No?

Posted: Dec. 17th, 2013  |  By DailyLuxe News

Photo: Farrell Building

Joe Farrell is a homebuilder that is fiercely passionate toward his profession.

The former member of the New York Mercantile Exchange left a hugely successful career to pursue that passion … which had been burning within him for years.

Mr. Farrell, who has been called the “McMansion Builder,” built his own dream home in 2009 and then decided to sell it. He originally listed the mansion dubbed the Sandcastle at $59,5 million, dropped his asking price to $49.5 million, and ultimately, reduced it to $43.5 million. The house has been on the market since it was completed.

However, when a buyer finally offered to pay full price … Farrell said no and took the home off the market. What? As it turned out, his desire to keep the ideal home for his wife and three children was important than making the deal. Who said business moguls only have no heart?

Joe Farrell recently had a chat with JustLuxe’s Susan Kime and spoke candidly about his professional and personal interests. It is a good read. Like most of us, there is more to him than meets the eye.