Jay-Z attends Moet Rose Lounge Presents Nas’ Life Is Good at Bagatelle on July 17, 2012 in New York City.

*Jay-Z and Beyonce Knowles have paid $400,000 to rent a holiday home in the Hamptons for the entire month of August.

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The couple will take their seven-month-old daughter Blue Ivy to the exclusive group of villages in Long Island, New York for the first time by letting the 11-acre property on Halsey Lane in Bridgehampton, known as the Sandcastle, which is currently on the market for $43.5 million.

The property comes with a 60-foot heated pool equipped with an underwater stereo system, a  two-lane bowling alley, virtual golf facilities, a skateboard half-pipe and a tennis court.

The home also has a ”children’s performing area,” as well as squash, racquetball and basketball courts with moving walls and a retractable hoop, according to the listing on Corcoran.com.