Baldwin Cuts Price On Mansion Amid Indictment
One of Hollywood's biggest stars, Alec Baldwin, is once again making headlines, but this time it's not for his acting career.
The 63-year-old actor has been trying to sell his historic Hamptons mansion for over a year now and has recently slashed more than $10 million off the asking price in hopes of luring in a buyer. This move comes just days after Baldwin was charged with involuntary manslaughter for the fatal shooting of cinematographer Halyna Hutchins on the set of the film "Rust." Despite his ongoing legal troubles, Baldwin has taken his efforts to sell the 10-acre estate to the next level by starring in online ads, showcasing the property's luxurious features and its serene location in the East Hampton community of Amagansett.
The actor first listed the property in 2020 shortly after the tragic incident on the film set. In his sizzle reel, Baldwin can be seen giving a tour of the 10,000-square-foot home, boasting about its expansive 10-acre lot and the peacefulness of the area. "The meadow in the front of my property is a reserve. It's a very low-density area, and I love coming here," Baldwin says in the video while discussing his love for the Hamptons and the property's picturesque landscape.
This unusual celebrity pitch has caught the attention of industry experts, who say that while price drops are not uncommon in the Hamptons real estate market, having a celebrity do a personalized promotional video for the sale is not a common approach.
The original asking price for the estate was just shy of $29 million, but Baldwin has gradually decreased it over the years to the current listing price of just under $19 million. Located more than 100 miles east of New York City, between Southampton and Montauk, the mansion is a dream home for anyone who has access to a private helicopter. With seven bedrooms, nine bathrooms, and an in-ground pool, the property is a true luxury retreat. However, the recent dramatic price reduction suggests that the sale has not been as successful as Baldwin had hoped.
Interestingly, Baldwin's mansion is not the most expensive property currently on the market in the area. A five-bedroom waterfront home with a private boardwalk is listed for $20 million, but it has less than half the living space and sits on only one acre. This suggests that the price reduction may not be solely due to market trends but may also be influenced by the actor's ongoing legal troubles and possible reluctance to stay in the Hamptons.
The history behind Baldwin's estate adds to its allure. The original farmhouse was built in 1740, and Baldwin has added two more additions to it over the years. The picturesque meadow and solar panels on the property showcase the actor's commitment to sustainable living. In the promotional video, Baldwin also mentions his involvement with the Hamptons International Film Festival and his love for the area, where he has had a home since 1982.
In recent years, there have been rumors of Baldwin's financial struggles, and he has talked about leaving trust funds worth $1 million for each of his children. However, with seven children and a current wife, this could amount to a significant amount. Moreover, Baldwin's controversial personal life, including the recent revelation surrounding his wife's true identity, has also been a topic of interest for potential buyers and media outlets.
The actor's recent legal troubles may also have impacted his ability to sell the mansion. In a 2019 YouTube chat with comedian Kevin Nealon, Baldwin joked about leaving a minimum inheritance and a handsome settlement to his current wife, Hilaria, if he dies. However, the couple has reportedly reached an undisclosed settlement with Hutchins' widower, which may have negatively impacted Baldwin's finances. This could also explain his urgent need to sell the property.
As the sale of Baldwin's Hamptons mansion continues to make headlines, it's uncertain whether the latest price reduction and online celebrity pitch will attract a buyer. However, with the ongoing legal proceedings surrounding the actor, it seems that the fate of the mansion may be tied to his legal troubles. Only time will tell if the sale of this iconic estate will be a success.