A new record! $200,000 per month for a Malibu lease!
October 11, 2010 - Malibu
By Juliet Chung from The Wall Street Journal Asia
The asking price for the former home of the late philanthropist Nancy M. Daly?
A princely $200,000 per month, perhaps a price fit for its location on Carbon Beach, aka Billionaire's Beach, where owners include Paul Allen, David Geffen and Jeffrey Katzenberg.
Kurt Rappaport of Westside Estate Agency has the listing. The mansion has 180 feet of beach frontage, eight bedrooms, a double-height living room with glass doors that slide into a wall, and a pool.
Mr. Rappaport's client is listed as a Delaware limited-liability company in public records.
Astronomical rental rates are not unheard of. In New York's Hamptons, a Tampa divorcee rented an 11.5-acre playground in Bridgehampton for two weeks this summer for $500,000.
"The dating pool is much better here than in Florida!" Cheryl Mercuris told the New York Post of her reasons for renting.
That property, a roughly 31,000-square-foot mansion with a bowling alley, skateboard half-pipe, rock-climbing wall and a 60-foot pool-among other toys-is owned by Hamptons developer Joe Farrell and was listed for $59.5 million in May 2009.
The price has been reduced to $49.5 million; Gary DePersia of Corcoran Group and Chris Burnside of Brown Harris Stevens, a Christie's Great Estates affiliate, have the listing.
In the summer of 2009, it commanded $425,000 for two weeks. If it doesn't sell by the summer, says Mr. DePersia, it will be available for two-week rentals at $500,000.
This article has been republished from Wall Street Journal
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