How the Upper .25% Live

I quickly browse a lot of real estate-related material, but when I came across “Hamptons” and “$375,000” in the same sentence, I slowed down.

If you don’t know, the Hamptons in Long Island is (summer) home to Wall Street’s — and Manhattan’s — rich and famous, and home prices there routinely trip eight figures (as in $10M-plus). Or did.

Which was the import of the article (“The Hamptons Stress Test” – Vanity Fair). Not so surprisingly, Wall Street’s crash has hit Long Island real estate; as a result, prices (and deals) have plummeted.

Still, “Hamptons” and “$375,000” simply don’t go together.

The catch?

That’s not a sale price. It’s a rental price. For one month.

To be fair, the property (pictured at top) fronts the ocean, and the month in question is August.
About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply