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Billionaire real estate titan Andrew Farkas has divorced his stunning second wife, Sandi, and has taken up with a 22-year-old Harvard senior.

Sources said megayacht lover and Gov. Andrew Cuomo crony Farkas, who is 56, is cavorting around the Hamptons with a busty senior from his alma mater.

Farkas is a big Harvard benefactor and is the chairman and Grand Sphinx of the universitys Hasty Pudding Institute of 1770, the famed social club that cultivates talent in the performing arts, satire and comedy. Theres even a Farkas Hall on campus.

A source sniffed, His new girlfriend is still at Harvard and younger than his daughter from his first marriage. He has rented a house in the North Haven area for the girlfriend, who is from Pakistan, and they are partying it up with her friends. Farkas also owns the fancy Montauk Yacht Club.

But another source insisted that the new romance didnt blossom at the Hasty Pudding Club, and things are going well despite the 34-year age gap. She isnt affiliated with the club, the source said.

Farkas, the founder of real estate merchant bank Island Capital Group, divorced willowy blonde Sandi, with whom he has two young sons, earlier this year. Were told he offered Sandi who is a playwright, screenwriter and founder of Playwrights of New York a very generous settlement. A third source said, He paid her about three times as much as he needed to. The divorce was quick and super-amicable.

They have put their gorgeous Upper East Side townhouse on the market for $42.5 million. The five-story neoclassical limestone house on 73rd Street measures nearly 11,000 square feet with five bedrooms, plus staff quarters and three kitchens.

He also owns a stunning waterfront mansion in North Haven that sits on 11 acres. Sandi recently purchased her own home in Sag Harbor.

Andrew, when reached through a spokesperson, declined to comment, as did Sandi.

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