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Most Expensive Hamptons Rental – $25 a Minute

Submitted by on April 19, 2010 – 1:50 pmOne Comment

Most Expensive Hamptons Rental 

 

Corcoran Listing: Sandcastle Estate, Bridgehampton, Long Island

 

A Corcoran Bridgehampton property has rented for $500,000 for two weeks in July (or $35,000/day), the highest rental fee on record for the Hamptons. The record-breaking rental is an 11.5-acre estate known as Sandcastle which includes a 31,000 sq. ft., 9-bedroom, 11.5-bathroom main house, pool, guest house, tennis, squash and racquetball courts, bowling alley, skateboard half pipe, Movie Theater and more. (okay so I can afford it for about… ten minutes)  

 

Corcoran president and CEO, Pamela Liebman remarked, “The Hamptons market has really bounced back.  Our Hampton rental and sales businesses are way up with a 72% increase in rental activity in March alone.  It’s no surprise Sandcastle has secured a record-breaking rental fee. It is a remarkable property located in America’s premier resort community where demand, once again, is high and the properties unparalleled.”

 

According to the Corcoran brokers representing the property, Evan Kulman and business partner, Gene Stilwell, “We are excited to be part of the highest rental transaction in the Hamptons”.   The owner and builder of the property, Joe Farrell, is the CEO of Farrell Building Company, a Bridgehampton-based luxury home building firm. The property is also listed for sale at $49.5 million.  For more information please visit: www.corcoran.com/property/listing.aspx?Region=LI3&ListingID=32012&ohDat= 

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