The Hollywood power couple just dropped $5.4 million on a Montauk beach house.

When you’re two of Tinseltown’s most in-demand actors, it’s only right that you’ve got the stunning beach house to match. So it’s no surprise that screen stars Naomi Watts and Live Schreiber and their two children will spend their summers frolicking in the sunshine at their new $5.4 million home in Montauk, NY. According to 27 East, the couple purchased the four-bedroom, four-and-a-half-bathroom home in the ritzy Hamptons enclave just after moving on from their home in nearby Amagansett, NY.

The well-appointed home measures 3,500 square feet and is located on a half-acre lot. A large gourmet kitchen is the perfect spot to cook up family dinners, while the master suite features a spacious, stunning bathroom with a steam shower and a separate tub. Wide-plank wooden floors, a den/library, office, and a finished basement with an additional bedroom and full bathroom are just a few of the deluxe perks in Naomi and Liev’s new vacation home. And with celebs like Matt Lauer and Christie Brinkley also hanging in the Hamptons, we’re guessing their neighborhood cookouts will be pretty star-studded.

In the backyard, a heated gunite pool and plenty of lounging and dining areas are complemented by the rolling green grass, perfect for the couple’s two tykes, Sasha and Sammy. But this being Montauk, we would be remiss not to mention the expansive ocean views and easy access to the peaceful water and beach a short walk from their door.

When they’re not hanging in the Hamps, Liev and Naomi split their time between the coasts. Back in 2012, they started leasing out their deluxe Brentwood home in Los Angeles, CA, for a cool $20,000 per month. (Word on the street is that Miranda Kerr and then-husband Orlando Bloom were tenants after Orlando sold his Hollywood Hills, CA, home.) Naomi and Liev bought the California home back in 2004 for $4.025 million but prefer to spend their time in New York. And why wouldn’t they, with the stunning full-floor Tribeca loft they snagged back in 2012 for $3.95 million? The 4,312-square-foot apartment features towering 14-foot ceilings and light-filled, oversized windows overlooking the Hudson River.

Images courtesy of Zillow.