What, exactly, will $29 million buy you out east this year?

Well, you can get luxury on the grandest scale -- a sprawling stone mansion perfectly restored, in the heart of East Hampton.

advertisement | advertise on newsday

Set on 5.4 acres and screened by hedges, the 2½-story house has a pool and Provencal garden plus an elaborate veranda. Indoors, there are 10 bedrooms, four fireplaces, an updated kitchen, a formal dining room, a living room, a library and a media room. There also is a separate carriage house with an apartment.

Built in the 1930s, the house was originally home to the Gardiner family, who own Gardiner’s Island. It was occupied, until his death in 2004, by Robert David Lion Gardiner. It is currently owned by real estate investor Shahab Karmely, who purchased the property in 2005 for nearly $9 million and renovated it for nearly $10 million.

“Very seldom does a home of this prominence and pedigree come to the market for sale in perfect condition,” says Tim Davis, senior managing director of Corcoran group real estate, which has the listing.