The price of this East End summer rental certainly nails the “tons” in Hamptons.
In Water Mill, on a private peninsula in Mecox Bay, a 30-acre property went up for rent between Memorial Day and Labor Day for a cool $2.5 million — and industry sources tell The Post that they have never seen such a sky – high demand for this almost three month period in their data.
Broken down, that $2.5 million total for the May-September season — traditionally the busiest time to live in the Hamptons — equates to about $833,333 a month and about $25,510 a day.
The property is also available for rent elsewhere this summer. According to listing portal Out East, the asking price is $2 million for July and August through Labor Day, $1.25 million for August through Labor Day, and $1 million for July alone.
The offering includes a roughly 28,000-square-foot home with 11 bedrooms, 14 bathrooms and five powder rooms, according to the listing from Hedgerow Exclusive Properties, which declined the Post’s request for comment.
Other notable perks include a lower level entertainment area that includes a 14-seat movie theater, a two-lane bowling alley with a 12-seat seating area, a 350-bottle wine cellar, and a 750-gallon shark tank.
The owner is Philadelphia real estate developer Michael Karp, who is also asking a whopping $59.5 million to sell the property.
According to the Wall Street Journal, Karp bought two homes on more than 20 acres in an off-market transaction from father-and-son clothing managers Arthur and Jason Rabin in late 2021. The other mansion, a 17,000-square-foot lot on about 9 acres, is asking for $59.95 million for sale, also through Hedgerow — down from last spring’s $72 million ticket price.
In 2020, jaws dropped when developer Joe Farrell listed his “Sandcastle” property in Bridgehampton — known to be rented by A-listers like Jay-Z and Beyoncé, as well as Justin Bieber — for $2 million. However, this was reportedly “a COVID situation” and the lease extended from March this year to Labor Day. Still, it was the most expensive lease in the East End at the time – and it was taken over by financier Ian Snow that season, according to Page Six.
The following year, another home in Hamptons was rented for the summer season for $2 million.
This house in the watermill is not much different. East End real estate gossip reports The Post that the property was said to have been rented for nearly $2 million for about four months last summer.
A message asking for comment from Karp was not immediately returned.
Karp’s $2.5 million lease adds an eat-in kitchen for the chef — as well as a formal dining room that seats 10. A formal living area is also joined by a study and a separate den with a fireplace and wet bar, the listing adds.
Also indoors: a half court for basketball, a gym, a massage room and an indoor pool. Since this is the Hamptons, there’s also a heated outdoor pool with spa and waterfall, plus other outdoor touches like a courtyard with a fire pit and hidden TV — and a dining area with a grill and pizza oven.