From NBC News: Who's worried about the market tumbling? Summer rentals like the one above at the ritzy
on , have hit $1 million, according to
local real estate agents. Long Island, New York
If you think your rent is high, consider summer rentals in the
Hamptons. Brokers say there are now at least a half
dozen homes and estates in the ritzy Long Island beach towns renting for around
$1 million—just for the summer. That works out to $9,803 per day, or $408 an
hour. And the $1 million lease doesn't include utility bills or other charges,
which can run in the tens of thousands.
Brokers say the number of million-dollar rentals marks a new record.
"It's unprecedented," said H. Dolly Lenz, a
Manhattan broker who also works with buyers and renters in
"The demand is not just strong, it's unbelievable."