Remember how the Walter Noels rented out their Carribean pad, Yemanja, on the island of Mustique? Well, apparently, the family behind Fairfield Greenwich aren’t so popular on the island nowadays.
There are rumoured to be a few island regulars who lost big with Madoff and/or the Noels.
Renting out one’s Mustique cottage isn’t a bad deal, however. It’s a longstanding practice on the island—done even by the late Princess Margaret. It’s considered good form on Mustique where the rent money can help fund the running costs which include staff, roads, electricity station, etc.
One Mustique tipster told us that the $55,000-a-week rent the Noels were asking (and getting!) was considered ridiculous on the island for a place no sea access. That’s over twice what singer Bryan Adams gets for his place “Point Lookout,” which sleeps more and has private beaches. (Oddly, Amy Winehouse was a recent guest, but anyway…) The price is roughly on par with what Mick Jagger asks for “Shogun,” his fancy Japanese-style place. The tipster points out that Mick’s pad is again much bigger, has a private beach, and it offers the option of additionally renting out “Pelican Beach,” the house Mick bought next door, if one needs more space.
But renting may be all the Noels can do right now, as selling their place, should they want to, may be a nightmare. The islanders are very fussy about who can buy: The island is co-op, and a very snooty one at that. In recent years, the co-op relaxed things a bit, but after this whole episode our tipster thinks they most certainly will tighten up.
Plus, not to mention, we’re in an economic hurricane, so not sure how many people are rushing out to buy a place in the Carribean, much less rent one for $55,000 a week.