New Hamptons mansion comes with a cottage in the dunes

An East Hampton Village home with a pre-existing permit that allows a beachfront bungalow is on the market for $39.5 million.

The 8,000-square-foot new construction has eight bedrooms and 9½ bathrooms on three acres, complete with an infinity pool, bungalow and tennis court.

But the bungalow is what really gives this home a fun feel, as homes built today aren't allowed to have a bungalow right out in the dunes, says Raymond Smith, managing broker for the East Hampton and Southampton offices of Douglas Elliman Real Estate and co-listing agent of the property with Oren Alexander. "You'll never get this again," he says.

Since the home has been newly constructed, it has "all the bells and whistles," Smith says, including 13-foot ceilings in the basement, a full generator and a seaside infinity-edge swimming pool on the ocean side.