Number of $1M Hamptons rentals approaches record

TRD NEW YORK /
May.May 28, 2013 04:00 PM

At least six Hamptons homes and estates are close to renting for $1 million for the summer, which would break a record for the number of properties with deals for that amount, CNBC reported, citing broker sources. Two have already rented for close to that figure, while the others are still in talks.

“It’s unprecedented,” Douglas Elliman’s Dolly Lenz told CNBC. “The demand is not just strong, it’s unbelievable.”

Unsurprisingly, a wealthy Russian is renting one of the properties, and the other renter is someone who works in finance, CNBC said.

One of the estates under contract for nearly $1 million this summer has an 18,000-square-foot guest house. It features 12 bedrooms and 12 bathrooms, as well as an indoor pool with a water slide. The other has a 14,000-square-foot main house with eight bedrooms and 10 bathrooms.

The owners, who are clearly wealthy themselves, plan on spending their summer in Europe or in other places, Pat Petrillo of Sotheby’s International Realty told CNBC.

Meanwhile, other Hamptons residents will spend their summers in trailers to capitalize on renting out their homes for July and August, as previously reported. [CNBC]Zachary Kussin


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