There’s still hope for tardy Hamptons renters

TRD New York /
May.May 16, 2013 09:00 AM

Renters who are hoping to score a Hamptons summer rental may still be in luck, the New York Post reported. There is still some inventory remaining, according to brokers, but only on the very low and high ends.

“There’s a tremendous amount [of inventory] at the high, high end,” Douglas Elliman’s Enzo Morabito told the Post, referring to rentals that ask $350,000 or more for the season. This, he said, was because many former high-end renters decided to take the plunge and buy a home late last year before the fiscal cliff’s higher taxes kicked in. Really inexpensive rentals – below $75,000 for the season – are also still available, he added.

But in general, brokers told the Post, the market has been robust, especially in the middle of the market. “I just had a call today from a renter from Brazil who wanted something for July — an oceanfront rental,” said the Corcoran Group’s Susan Breitenbach. “I don’t even have [something to show].”

Anthony DeVivio, Halstead Property’s managing director in the area, told the Post he had to turn away a Hollywood client who wanted to splash down $150,000 for a Further Lane East Hampton rental. “There was really nothing available,” DeVivio said.

“It’s like going to a sale at Macy’s two hours too late,” Morabito said. “The sale is there, but a lot is gone. Still, there’s some good stuff.” [NYP]  – Hiten Samtani


Related Articles

arrow_forward_ios
49 East 10th Street and Barbara Corcoran (Credit: Google Maps and Getty Images)

Corcoran to shut down office in building partly owned by Barbara Corcoran

Corcoran to shut down office in building partly owned by Barbara Corcoran
Corcoran President & CEO Pamela Liebman (Credit: Corcoran, Getty Images)

Welcome to Queens: Corcoran opens first borough outpost

Welcome to Queens: Corcoran opens first borough outpost
Corcoran CEO & President Pamela Liebman (Credit: iStock)

Corcoran begins new lead-gen push via Facebook ads

Corcoran begins new lead-gen push via Facebook ads
Realogy CEO Ryan Schneider and SIRVA CEO Thomas Oberdorf

Judge rejects Realogy’s bid to force $400M sale of Cartus

Judge rejects Realogy’s bid to force $400M sale of Cartus
Corcoran's Pam Liebman and Bespoke's Cody and Zachary Vichinsky. Inset (clockwise from left) Zibby Schwarzman, Vera Wang, Barry Weiss, Mohammed Grimeh, and Ian Snow (Getty, Abana, Wikipedia Commons; Liebman by Sasha Maslov)

Corcoran exposes Bespoke’s little black book in Hamptons legal battle

Corcoran exposes Bespoke’s little black book in Hamptons legal battle
Quarantine Cribs

TRD Quarantine Cribs: Take a tour of Cathy Franklin’s whiskey distillery & home

TRD Quarantine Cribs: Take a tour of Cathy Franklin’s whiskey distillery & home
(Credit: iStock)

Rental concessions are on the decline, but the size of incentives is growing

Rental concessions are on the decline, but the size of incentives is growing
Realogy CEO Ryan Schneider 

Realogy’s 2019 revenue slides 3% to $5.6B

Realogy’s 2019 revenue slides 3% to $5.6B
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...