Hamptons Real Estate Back in the Game
Wall Street's comeback lifts East End home market
Published at 5:14 PM EST on Mar 6, 2011 | Updated at 6:35 AM EST on Mar 7, 2011
It's happy days for the Hamptons again as Wall Street's comeback is lifting the summer real estate market.
Rentals and purchases of beach homes on the East End are up as Wall Street's bonuses are healthy again, according to a the New York Post.
There's a swift business now in luxury homes in the $1 million to $10 million range, a Corcoran broker told the paper.
That's a radical departure from recent years when Wall Street's woes left homes on the market and rentals empty on the East End.
Southampton saw some mega real estate deals over the past year, with one 13-bedroom home on Lake Agawam fetching $41.3 million, the paper reported. Its new owner: hedge fund manager John Paulson.