Michael Karp

Philadelphia developer Michael Karp lists his Water Mill compound for $99.5 million, $19 million below his purchase price. The estate, spanning 21 acres with 45,000 square feet, features 24 bedrooms and 38 bathrooms. Karp bought it for $118.5 million in 2021, then listed a part for $72 million, later reducing it to $59.5 million. The larger home is available for rent at $2.5 million for the summer. Amenities include a private dock, tennis court, pool, spa, pool house, and a 750-gallon shark tank, among others. The listing is handled by Hedgerow Exclusive Properties.