- 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 square foot, nine-bedroom, 11.5-bathroom main house, pool, guest house, tennis, squash and racquetball courts, bowling alley, skateboard half pipe, Movie Theater and more.
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 percent 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 premiere 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.
The Corcoran Group
is a leading residential real estate brokerage company in New York City
, and operates 42 offices with 2,200 sales associates serving Manhattan, Brooklyn, the Hamptons, the North Fork, Shelter Island, Delray Beach and Palm Beach, Fla. The Corcoran Group is part of NRT LLC, the nation's largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy's company-owned real estate brokerage offices.
For more information go to www.corcoran.com