Presenting a once-in-a-lifetime opportunity, 70 & 71 Cobb Lane are now available together for the first time. Set on a private peninsula in Water Mill South, this extremely rare generational compound spans over 21 total acres. With 24 bedrooms and 38 bathrooms spread across two magnificent residences, the unique multi-parcel offering represents true opulent living. Meticulously designed by renowned architect Barnes Coy Architects, the waterfront property encompasses a 17,173 +/- sq. ft. house with 13 bedrooms and a plethora of amenities including a tennis court, saltwater gunite pool and spa, and a two-level pool house with a commercial kitchen, gym, sauna, and pool-side deck. Located on the inland portion of the compound, the secondary property is comprised of a 28,000 +/- sq. ft. residence along with a heated pool and spa, pool house with pergola and moat, courtyard with fire pit, and multiple lounging/dining areas. Designed for entertainment, the second home features extensive interior amenities including a 14-seat movie theatre, 2-lane bowling alley, half court basketball, professional gym, 350 bottle wine cellar, spa with sauna and steam room, indoor swimming pool, and a game room with billiards, 750 gallon shark tank, wet bar, and arcade. Showcasing over 3,100 feet of private shoreline on Burnett Creek, the compound offers access to Mecox Bay via a private dock. With a perfect marriage of architectural splendor and natural beauty, this extraordinary piece of Hamptons' history presents an unrivaled program with a picturesque south of the highway setting amidst a backdrop of bay views.