Billionaire real estate executive, 56, 'divorces wife of 15 years an starts dating 22-year-old Harvard student'

  • Andrew Farkas founded real estate merchant bank Island Capital Group
  • He split with wife Sandi, a playwright who he married in 2001
  • Farkas is dating senior at his alma mater, partying together in Hamptons
  • Harvard renamed building housing famed Hasty Pudding club after Farkas contributed a hefty gift, but new romantic interest is not affiliated
  • Following divorce, Farkas put his Upper East Side townhouse up for sale
  • He purchased 10,000-square-foot mansion in 2007 for $23million and is now selling it for $42.5million

By Dailymail.com Reporter

Published: 19:33 EST, 14 August 2016 | Updated: 03:34 EST, 15 August 2016

Billionaire Andrew Farkas, 56, has divorced his second wife of 15 years and has started dating a 22-year-old Harvard student,Page Six reported.

Farkas, the founder of real estate merchant bank Island Capital Group, reportedly offered Sandi Farkas a hefty settlement and put their luxurious Upper East Side townhouse on the market for $42.5million.

Farkas, who graduated from Havard in 1982, is reportedly partying in the Hamptons with a 'busty' Pakistani senior at his alma mater, the gossip website reported.

Billionaire Andrew Farkas, 56, has split with his second wife of 15 years, Sandi, in an amicable divorce
Pictured, the couple in 2002

Billionaire Andrew Farkas, 56, has split with his second wife of 15 years, Sandi, in an amicable divorce, Page Six reported (pictured, the couple in 2014, left, and 2002, right)

Farkas, who graduated from Havard in 1982, is reportedly partying in the Hamptons with a 'busty' 22-year-old senior at his alma mater, the gossip website reported

Farkas, who graduated from Havard in 1982, is reportedly partying in the Hamptons with a 'busty' 22-year-old senior at his alma mater, the gossip website reported

Farkas (pictured, with models in 2009) made a considerable gift to Harvard, where they renamed a building Farkas Hall in 2011 

Farkas (pictured, with models in 2009) made a considerable gift to Harvard, where they renamed a building Farkas Hall in 2011 

Farkas, who still serves as the Graduate Chairman of the Ivy League school's famed Hasty Pudding Institute of 1770, contributed a major gift to the school.

The building where the theatrical club has operated since 1888 was renovated, expanded, and renamed Farkas Hall as a result. 

But a source told Page Six she wasn't affiliated with the club.

While one source pointed out that the Harvard student is 'younger than his daughter from his first marriage,' another reported the romance was getting on despite their 34-year age difference.

The owner of the Montauk Yacht Club amicably separated from his second wife Sandi, whom he married in 2001, with whom he has two sons.

He has two daughters with his first wife, whom he divorced three years before his second marriage. 

Farkas, the founder of real estate merchant bank Island Capital Group, put his luxurious Upper East Side townhouse on the market for $42.5million (pictured, the exterior of 12 East 73rd Street)

Farkas, the founder of real estate merchant bank Island Capital Group, put his luxurious Upper East Side townhouse on the market for $42.5million (pictured, the exterior of 12 East 73rd Street)

Their jaw-dropping townhouse, a stone's throw from Central Park on the Upper East Side's 73rd Street, was also put on the market in June.

He purchased the 10,700-square-foot home in 2007 for $23million, and spared no expenses renovating it.

Nine years later, it has nearly doubled in price, and photographs show the six-storied mansion, complete with a garden and roof terrace with views of Central Park.

According to Page Six, Sandi, a playwright and screenwriter, has purchased a home in Sag Harbor.  

Comments (393)

Share what you think

 View all

The comments below have not been moderated.

 View all

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.

Add your comment

By posting your comment you agree to our house rules.

Who is this week's top commenter? Find out now