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Report: Russian Billionaire Bachelors Snapping Up Hamptons Mansions

The New York Post reports several of Russia's wealthiest are paying handsomely for a summer on the East End.

The rubles are rolling into the Hamptons as several prominent Russian businessmen are showing interest in the East End this summer, The New York Post reports.

One Russian billionaire, who owns chains similar to Home Depot and Petco, has reportedly rented a 12-bedroom mansion in Southampton for more than $800,000. 

Recently a Russian composer dropped nearly $24 million for a mansion in Southampton, and it is rumored new Nets owner Mikhail Prokhorov is looking at beach mansions in Sagaponack.

You can read the rest of the article here.

Malibu Real Estate November 27, 2011 at 10:37 PM
We area seeing a very similar pattern here in Malibu. The majority of foreign buyers are from Russia or Middle Eastern countries. Beach real estate, especially in a stable country, will always be in high demand among the world's wealthy. Here is Malibu a large beach house can rent for up to 250k per month. A fair number of these second homes end up producing decent income for their owners when not in use.
Richard Warden February 26, 2013 at 05:52 PM
If any Hamptons area real estate professionals would be interested in English-Russian or English-Ukrainian translators, my wife and I can help with this. I speak Russian because I lived in Ukraine for 10 years as a missionary. Also, my Ukrainian wife helps tutor children in Russian and there is a demand because many Slavik residents want their children to learn Russian. For more info, Google the following blog post: Russian Translator / Tutor for Hamptons NY

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