Bill and Hillary Clinton have switched up their August Hamptons plans, relocating from developer Elie Hirschfeld’s East Hampton home, where they have rented the past two summers, to another estate near the ocean in Sagaponack, the New York Times reported.
Hirschfeld told the Times that he was not renting his East Hamptons home this season.
But the Clintons indicated they weren’t interested in returning after dealing with the loss of a chunk of their security deposit, as two sources familiar with the couple’s plans told the Times.
“I recall sending back the funds, with of course some deduction for utilities and things like that, and that amount was accepted,” Hirschfeld told the Times. “It’s a large house, it has upkeep and it’s expensive — that’s a fact.”
While he did not share the price of the rental or heft of the security deposit, oceanfront homes in the area generally rent for upwards of $200,000 per month, according to online listings cited by the Times. Corresponding security deposits tend to range 10 percent or higher.
The Sagaponack home the Clintons are renting, however, will likely set them back an almost equally hefty sum: Brokers familiar with the area told the Times that beachfront digs tend to rent for around $100,000 during the prime August season. [NYT] — Julie Strickland