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Corcoran Rental Breaks Record!

Originally Posted: April 14, 2010

"Sandcastle" has secured a record-breaking rental fee. (Corcoran)

Bridgehampton - 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.

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Guest (Amanda) from NY says::
If someone makes enough money to buy or vacation in a house like this...they should and should not feel guilty about it. I'm sure if you can spend this amount of money on a rental, you are giving back to lots of causes. For those who have an average income donate a lot less of their income if any and won't admit to their frivolous spending on things they can have but do not necessarily need.
May 21, 2010 9:38 am

Guest (Dan) from Maryland says::
Probably rented by Michael Steele for a Republican retreat. I hope the owners don't mind exotic dancers in their house.
May 8, 2010 12:48 pm

Guest (Nan) from Ontario says::
That is a very expensive vacation on one hand, but on the other hand if they are willing to pay the money it's their money/business not ours. They will probably spend money shopping/eating etc. so that helps the economy too :)
May 6, 2010 4:45 pm

Guest (Jake) from Manatthan says::
I wonder if the president is aware of these spendings, hope they are paying TAXES............
May 2, 2010 12:50 pm

Guest (shawna) from east hampton says::
The thaught of someone spending 500k to stay in a hamptons home for two weeks is BALISTIC there are so many home less people and starving kids in America are these people even from a Ameria? is'nt the country in recession how sad........
May 2, 2010 12:36 pm

Guest (Melinda Potosky) from Keller, TX says::
Maybe this luxury home builder, who, incidently doesn't obviously need the money, could build a shelter with his hard earned "rent money". And, I'm a Republican! Go figure. Who has their priorities straight?
Apr 29, 2010 1:58 pm

Guest (ny) from TX says::
I'm pretty sure if someone is going to spend this much for a rental that they are already giving to charity. They are probably also sharing the cost with someone. They probably worked really hard to get where they are so that they can afford it.
Apr 21, 2010 4:25 pm

Guest (Paula) from Las Vegas says::
You have got to be kidding me! The owner of this house should sell it and donate the money to homeless shelters or hell why not build a homeless shelter for people that are not as fortunate as others. He will get his blessing from God in return. It's always nice to be a cheerful giver.
Apr 21, 2010 3:22 pm

Guest (Dale) from OK says::
Its amazing what people do with their money. Some people are lucky to make that kind of money in their lifetime. While other people overspend for a two week vacation. If you have that kind of money to blow you should help someone out. Make someone's dreams come true.
Apr 21, 2010 12:48 pm

Guest (Sara) from Dallas says::
Me and several people here at the office read this artical and we want to spit. Where are the priorities in the world anymore. Who the hell cares about a damn house in the Hamptons that costs $500K for two damn weeks? Does anyone realize what that money could do for the homeless, starving children? Im just sick.
Apr 21, 2010 12:12 pm

Guest (CZY) from GA says::
If you can afford that for two weeks,why not just buy the place. Seems like someone has too much money and not enough brains.
Apr 21, 2010 10:22 am

Guest (rocketflower1) from California says::
It is incrediable to think in today's economy and with the earthquakes etc. that there are people dying or are homeless. And to spend that kind of money on a rental, what selfishness! Nothing can be worth spending that kind of money other then helping someone in need. And we wonder why the world is decaying............
Apr 21, 2010 10:06 am

Guest (Vness) from Seattle says::
I was quite enthralled with the prospect of this property.... until, I realized there really is no "Disco"; oh well, never mind, am no longer interested.
Apr 21, 2010 5:20 am

Guest (steve) from canonsburg says::
i whont to see the inside home
Apr 20, 2010 9:03 pm

Guest (Danielle) from NC says::
This house was on Teen Cribs on MTV!
Apr 20, 2010 7:24 pm


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