Friday, April 23, 2010

Economic crisis? what crisis?

The volcanic cloud hovering over Wall Street, touched off by the SEC and the winds of regulatory change in D.C., is leaving wealthy bankers on edge.

But apparently not nervous enough to scale down summer vacation spending.

According to Hamptons.com, a palatial estate in Bridgehampton, N.Y., has been rented out for $500,000 for two weeks. That works out to more than $35,000 a night, making it the highest price ever paid for a Hamptons rental.

Of course, Corcoran Group, which rented the place, won't disclose the name of the renter. A post on Newsday.com said a person close to the deal said the renter is "no one famous nor a company looking to do a big event, just a family willing to fork over $500,000 for their two-week stay."

So what do you get for $35,000 a night? You get 11.5 acres with a 31,000 square-feet home featuring nine bedrooms, 11.5 baths, a movie theater, tennis and raquetball courts, heated pool, disco, bowling alley and rock-climbing wall.

In case the renter decides he wants to keep the place, it also is for sale -- for a discounted $49.5 million

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