Wealthy Russian bachelors descend on the Hamptons market

TRD New York /
Jun.June 20, 2011 10:10 AM

Fed up with the French Riviera, wealthy Russian buyers are descending on the Hamptons and they’re not afraid to pay the big bucks, according to the New York Post. “Russians are here big-time, and they don’t think much about dropping a million bucks to be in the Hamptons for the summer,” said one broker who has made several deals with Russian clients.

It is Russian renters, the Post said, who are setting the highest rates for summer in the East End of Long Island.

Russian billionaire bachelor Igor Sosin has rented a 12-bedroom mansion on Ox Pasture Lane in Southampton for $860,000 for July and August, sources said. The brokers were Victoria Logevisky and Erica Grossman of Prudential Douglas Elliman. 

Russia’s third richest man, bachelor Mikhail Prokhorov, the new owner of the New Jersey Nets, is also looking in the Hamptons. He apparently looked at beach mansions to buy and rent, including a $15 million estate in Sagaponack.

“Brokers have never seen big bucks like this before,” said one broker in the area.

Igor Krutoy, a Russian composer, also recently bought a Southampton mansion for $23.85 million. [Post]

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