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Rent This $400,000 Southampton House with No Security Deposit

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For rent totalling $400,000, one can score this "impeccably maintained" eight bedroom, six-bath beachfront house on Meadow Lane in Southampton from now through Labor Day. Nothing particularly unusual about that. Except, oh, this: the owners are planning on tearing down the whole house in the fall, so they're willing to consider skipping the usual 10% security deposit.

Who would allow such a crazy thing? The $20M, three-acre property is currently owned by none other than Jane and David Walentas, the husband-wife developerer oft credited with transforming Brooklyn's Dumbo neighborhood from an industrial wasteland to an industrial wasteland with coffee shops. Of course, they also own Two Trees Farm in Bridgehampton where boozy Polo takes place every summer, so they're clearly okay with allowing huge crowds to party on their properties.
· Hey, Slobs! Have We Got A Place For You [The Daily]
· Listing: Southampton Village [Prudential Douglas Elliman]