zerohedge.com / by Tyler Durden / Jul 14, 2017 5:00 PM
Real-estate prices in the Hamptons – the preferred North American summer retreat for wealthy finance types – have long been viewed as a barometer of the general mood on Wall Street. And with US stocks continuing their ascent to fresh record highs, despite Brainard’s admission that “asset valuations do look a bit stretched” and signs that the rally is being propelled by a concentration of megacap stocks, luxury real-estate agents out east are clearly praying for a blockbuster season after last year’s disaster.
Indeed, even as luxury apartment buildings along New York City’s billionaires row struggle with unsustainably high vacancy rates, stoking speculation of a bubble in the ultra-high end of the city’s real-estate market, the owners of a roughly 14-acre beachfront property with multiple houses and two putting greens in Southampton have the temerity to list the parcel for $150 million, making it the most expensive home for sale in the Hamptons right now.
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