Billionaire Phil Falcone Is Paying $700,000 To Rent This East Hampton Home For The Summer

Image: Courtesy of Corcoran Realty

Phil Falcone, billionaire hedge fund manager, is renting Stone Meadow Farm in East Hampton for the summer for $700,000, according to the New York Post. It's the same house that Mariah Carey rented back in the summer of 2008.

Apparently, Falcone wanted to purchase the house and bid on it in 2009, but was beat out by heiress Isabel Rose, who put the home on the rental market this summer for $1 million.

The 18,000 square foot house sits on eight acres of land, has an indoor spa room with a hot tub, a media room, two separate cottages, a heated pool, tennis courts, and a stable for up to five horses.

The only downfall of the house is it's not right on the ocean

An aerial view of the eight acres

Image: Google Maps

The house has a whopping 18,000 square feet

Image: Courtesy of Corcoran Realty

One of the outdoor fireplaces

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Beautiful gardening

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The white kitchen

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The heated pool

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One of the living rooms, also very white

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Another living room with huge windows

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The home is very wide open with high ceilings

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Another kitchen

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The indoor hot tub

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There's a private gym

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And a sauna

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One of the bathrooms

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A shed for storage

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One of the guest cottages

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There's horse stables too

Image: Courtesy of Corcoran Realty