The Wall Street Executive Who Won’t Leave His Rented Hamptons Mansion

The Wall Street Executive Who Won’t Leave His Rented Hamptons Mansion

Gavin Zeigler / Alamy Stock Photo Last year, as summer faded and the coronavirus pandemic maintained some of its grip over New York, a series of similar reports about Hamptons real estate emerged. New York had passed laws to protect renters from eviction amid the health crisis, perhaps not with the mayor of Southampton , a Manhattan real estate developer , a Hamptons realtor , and an influencer in mind. But all of them have been in recent disputes with their landlords about whether they overstayed their leases.

On Tuesday, shortly after New York governor Andrew Cuomo announced the end of most COVID restrictions and a fireworks show to mark the occasion, the New York Post issued a new installment in this genre of Hamptons discord. The tabloid reported that Paul Pion, the chief administrative officer of the Wall Street firm Cantor Fitzgerald, and his wife Stephanie have declined to leave their $10,000/month Water Mill rental after their lease expired last month and the nearly $5 million home’s owner found a buyer.

“They aren’t leaving, and it looks like an episode of Hoarders ,” a source told the Post .

On June 10, Krause Estates, the property’s owner and landlord, filed a lawsuit against the Pions in Suffolk County Supreme Court. The suit alleges that “the occupancy of the Tenants has become an intolerable nuisance due to the lifestyle and practices of the occupants,” claiming that the couple are damaging the property with the “high attendance parties” they host there and denying the home’s buyer access to the premises.

According to the suit, “Defendants are conducting themselves in a bad faith, dishonest and manipulative way to exploit the COVID-19 pandemic and the mass confusion and gridlock in the lower courts in an effort to, among other things, block the impending sale of the Premises.”

“The COVID-19 pandemic has no bearing here since defendants have suffered no financial hardship from it,” the lawsuit continued, noting that the couple has another residence in Manhattan.

Paul Pion told the Post that the suit’s claims are “completely false.”

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