A $125 million equestrian estate is the most expensive home for sale in New York. Look inside the massive property.

• A luxury estate in Water Mill, New York, is listed for $125 million.
• The massive property is the most expensive home on the market in New York.
• Located in the Hamptons, it offers proximity to beaches and a full-service training facility.

A massive estate in Water Mill, New York, has hit the market for $125 million, making it the most expensive home for sale in the entire state.

Like something out of “The Great Gatsby,” the property includes an expansive horse-training complex with boarding stables and polo fields, plus a 20,000-square-foot main house by Hamptons designer-builder Jeffrey Collé.

Surrounded by acres of protected farmland and minutes from the beach, the home has ultra-high-end amenities, including a pool, cabana, and sunken tennis court, solidifying its position among the Hamptons’ most extravagant properties.

Take a look inside the most expensive home for sale in New York.

The most expensive home in New York is on the market for $125 million.

Listed by Bespoke Real Estate, the compound in Water Mill is more expensive than sky-high penthouses in New York City and other luxurious Hamptons homes currently on the market.

Despite its high price tag, it’s a fraction of the most expensive home ever sold in the US: a penthouse apartment in Manhattan purchased by Ken Griffin in 2019 for $238 million.

The property sits on 80 acres in the heart of the Hamptons.

The estate, which is also the largest equestrian compound in the Hamptons, encompasses three separate parcels of land totaling over 80 acres and is situated within a protected farmland area and a nature reserve.

Property records cited by The Wall Street Journal showed that developer Ben Ashkenazy and his wife spent a total of $26.7 million acquiring the estate across two purchases in 2015 and 2016.

The result is unmatched privacy for its wealthy future owners.

Tucked between Southampton and Bridgehampton, Water Mill is known for its rolling farmlands, ocean access, and discreet luxury estates.

The estate is situated minutes from beaches, marinas, and Hamptons villages, offering access to a range of high-end restaurants, farm stands, and luxury shopping.

The property is a full equestrian compound.

The estate includes a private full-service horse farm with boarding stables, paddocks, and professional-grade training facilities — rare amenities even for the Hamptons’ most exclusive addresses.

The main residence was designed by Hamptons designer-builder Jeffrey Collé.

Collé, known as one of the Hamptons’ premier custom homebuilders, oversaw the construction of the mansion.

His client list includes Wall Street executives and celebrities, including Alec Baldwin and Billy Joel.

The home has about 20,000 square feet of living space.

The primary residence has eight bedrooms, nine full bathrooms, and four half-baths, with interiors that combine modern elegance with traditional Hamptons charm.

The home was designed with comfort and grand-scale entertaining in mind.

Multiple living and dining spaces open onto expansive patios and terraces, ideal for hosting gatherings or summer parties with breathtaking views of the surrounding countryside.

The house includes nine wood-burning fireplaces, all imported from 17th- and 18th-century French chateaus.

The luxury details throughout the home don’t stop there — each bathtub in the home was hand-carved from Verona stone, with leftover material used in the home’s floors and countertops, according to the listing.

The estate’s outdoor living spaces and amenities rival those of a private resort or country club.

An expansive outdoor patio and terrace offer sweeping views of the 184 acres of surrounding farmlands and reserve, while columns add a touch of glamour to the property’s outdoor design.

The property has a 25-by-50-foot heated gunite pool.

An adjacent pool cabana with bar seating gives residents the space to entertain and unwind by the pool.

The estate also includes a sunken tennis court and landscaped gardens.

The tennis court, situated on a lower elevation than the surrounding grounds, is designed for privacy and shielded from the wind, resulting in improved gameplay and viewing conditions.

The listing also includes the sale of Pinnacle Farm, a full-service horse training facility.

Pinnacle Farm is a full-service equestrian training facility and one of the largest of its kind in the Hamptons, with indoor and outdoor riding rings, jumping arenas, a storage barn, and a boarding facility for horses with 20 stalls, per the listing.

The listing describes the property as “a true sanctuary for equestrian enthusiasts.”

The listing could signal a shift for the quiet town of Water Mill.

Though Water Mill may not be as well known as Montauk or East Hampton, the town is earning a reputation as a quieter, more private place for true Hamptons living.

Zillow reported that the average price of a home in Water Mill, New York, is $4.7 million as of September 2025, representing a 2.9% increase over the past year.

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