A Hamptons compound purchased by Gladwyne real estate developer Michael Karp for $118.5 million in late 2021 is once again on the market now for $99.5 million, writes Zachary Kussin for the New York Post.

The property consists of two homes located at 70 and 71 Cobb Lane, the priciest residential property for sale in the Hamptons.

When Karp bought the property, it was the second-most-expensive home sale in the Hamptons, ever. He purchased the two homes from father-and-son apparel executives Arthur and Jason Rabin off-market.

Originally, he listed 71 Cobb Lane for $72 million in the spring of 2022, before gradually dropping the asking price to $59.5 million. In the spring of 2023, he listed 70 Cobb Lane for the same $59.5 million amount.

The 71 Cobb Lane home measures 17,000 square feet on 9 acres, while the 70 Cobb Lane stands on 12.2 acres and features a 28,000 square feet home. Together, the homes have 24 bedrooms and 38 bathrooms.

Highlights among the amenities include a 750-gallon shark tank, a 14-seat movie theater, a tennis court, and the two-story pool house.

Read more about the Hamptons property that has hit the market at the New York Post.

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