The Coldplay frontman is reportedly renting a mansion from Los Angeles Lakers manager Mitch Kupchak in the Hamptons and the lavish property is just a ''few blocks and a short walk'' away from the house his estranged wife - with who he has children Apple, 10, and Moses, eight - is staying in for the summer, the New York Post newspaper's Page Six column reports.
The pair have fuelled rumours of a reconciliation in recent weeks as they have been spotted numerous times together in the New York resort, including in restaurants with their children and at the premiere of movie 'Hector and the Search for Happiness'.
A source said recently: ''They have spent more time together than they did when they were a couple.
''When they are out together, all they do is laugh and act flirty and playful.''
Meanwhile, Gwyneth has spoken out about her ''misguided'' search for perfection and fear of not being seen to ''fail'' by other people.
The 41-year-old beauty wrote on her lifestyle website GOOP: ''Striving for achieving a sense of perfection has been a misguided belief in my life, often leading me down the wrong path.
''It has made me, at times, place value on the wrong things. It has made me not listen to my true self for fear that I would somehow fail in another's eyes. I was curious as to how the idea of perfection has become so pervasive in our society, how it begins, how it hurts us and perhaps, even, if it carries a certain benefit.''