Even after a drastic $10 million price cut, Alec Baldwin couldn't sell his beloved, longtime home on the east end of Long Island.
The renovated seven-bedroom farmhouse on 3.2 acres has been on the market since 2022 – a 12 months after the veteran film and tv star's personal and skilled life collapsed when he fired a gun used as a prop on the set of his western film “Rust,” killing cinematographer Halyna Hutchins.
And yes, the gunfight in Rust is considered one of the issues that adds to the home's yuck factor. Realtor.com reportedciting considered one of several real estate agents who sell luxury homes within the Hamptons. The “yuck factor” may linger, the web site reported, even after a New Mexico judge ended Baldwin's manslaughter trial earlier this month after finding that prosecutors had withheld evidence.
Balwin was already a polarizing celebrity before the shooting in “Rust,” Realtor.com reported. After the tragedy, the 66-year-old was indicted by prosecutors and faced multiple wrongful death lawsuits for negligently handling a revolver used as a prop during a rehearsal for the film.
“The celebrity connection is probably a disadvantage for most buyers in this case,” Jenny Lenz, managing director of New York City-based Dolly Lenz Real Estate, told Realtor.com.
“Normally, a property associated with an A-list celebrity would command a high price,” Lenz continued. “However, given the negative publicity currently surrounding him, his association and active involvement in marketing the home is likely a detriment, and clients have suggested it has a 'yuck' factor.”
The reference to Baldwin’s energetic involvement within the marketing of the home comes from a relatively Video “lost” He shot earlier this 12 months to draw buyers' interest in his property, based on New York Magazine Reported with restrictionsIn the video, the Long Island native talks about his fond memories of visiting the Hamptons when he was “young” and the way he rented after which bought a number of homes before selecting the property he’s now attempting to sell.
Baldwin bought the classic picket house nearly 30 years ago for $1.75 million and originally lived there together with his first wife, Kim Basinger. It later became the popular home for him, his second wife, Hilaria, and their seven children. The family lived there in isolation in the course of the COVID-19 lockdowns.
Standing in a barren field near his home, Baldwin says within the video: “I love coming here. When I come here, I'm always the happiest.”
Baldwin explained that the ten,000-square-foot home has been expanded twice and now includes a pool and movie show, Curbed reported. It was first offered for $29 million in 2022, but was relisted earlier this 12 months for $19 million.
Real estate agents cited other reasons for the home's inflated price — primarily its location. It's not near the ocean, but in farmland on the north side of New York State Route 27, the east-west highway that runs from Brooklyn to Montauk.
For the posh buyer segment, the placement is “not considered prime,” says Lenz. “While Amagansett is chic and quaint, this property is … off the beaten path, but still as affordable as if it were on one of the best streets in East Hampton or Southampton.”
And while the house looks good in photos, Lenz told Realtor.com that its style is “pretty dated” for the present market. “Buyers in this area are looking for more modern styles and either new construction or recently renovated homes,” she said.
Another problem is that 3.2 acres of the 8-acre property are “reserved exclusively for agricultural use,” based on Jonathan Yarton, a New York-based broker who appears on Max's “Selling the Hamptons.” For some, the agricultural zone ensures there are not any nearby neighbors, Realtor.com said. But the zone also means a future owner couldn't construct one other home on the property.
What is obvious from Baldwin's video is that he’ll likely need to sell the property – even when he may not need to. As Baldwin revealed in a podcast interview with Kelly Ripa in November 2023, he’s burdened with the prices of supporting a wife and 7 children in an upscale lifestyle. The Cut reported“Nanny, kids, my wife,” Baldwin said, listing the 11 individuals who need plane tickets when he travels for work.
It's no surprise that the Baldwins' lifestyle – which incorporates sending their children to a personal Spanish language school and owning several homes – is sort of expensive, based on The Cut.
Baldwin has also complained that he has had no work opportunities for the reason that Rust shooting and can likely face astronomical legal fees each to defend his quite a few civil suits and to defend himself within the criminal trial. Baldwin's high-profile criminal defense team included star attorney Alex Spiro, who once reportedly charged JP Morgan Chase $2,025 an hour for work on a fraud case.
But Baldwin may find short-term financial relief by participating in a reality TV series he and Hilaria have announced. For “The Baldwins,” the couple will invite TLC cameras into their home to follow them as they raise their seven young children. In the long run, Baldwin may receive compensation from authorities in New Mexico. Last week, he and his lawyers filed suit against prosecutors and police in Santa Fe, New Mexico, threatening them with “future litigation” over their actions within the Rust shooting investigation and trial.
Originally published:
image credit : www.mercurynews.com