Mercurial actor Alec Baldwin and his wife, Hilaria Baldwin, have conquered many a hurdle during their 14-year marriage, but there is one puzzle that the couple can’t seem to work through no matter how hard they try: securing a buyer for their beleaguered Hamptons mansion, which they have been trying to sell since 2022.
The key question is why?
Alec, 67, and Hilaria, 42, initially plonked the palatial Amagansett spread on the market in September of that year with a very ambitious asking price of $29 million.
What followed was something of a real estate roller-coaster ride during which the couple loop-de-looped multiple times, first by chopping their ask several times, then by delisting and listing the dwelling all over again for an even lower price.
Then, they threw a curveball by nixing their plan to sell it altogether, gushing to the New York Times in August that they couldn’t imagine life without their longtime weekend escape.
The latest twist in that wild ride occurred in December, mere months after that interview, when they U-turned yet again, opting to relist the home for $21 million, while hinting at plans to quit the East Coast altogether in favor of pursuing a family “adventure” elsewhere.
Still, while they now seem set in their decision to part ways with the property, they have struggled to secure a concrete offer. And not for lack of trying.
Weeks after listing the home again, the couple dropped their asking price to $19.95 million, where it sits today.
Hilaria even took to Instagram—where she has an impressive following of 1 million—to promote the home, waxing lyrical about the many happy memories her family has made there, before urging her fans to check out its listing.
On paper, the property offers amenities that any would-be Hamptonite might seek in a dwelling—including ample opportunity for expansion, which the latest listing has made very clear.
The listing’s feature photo depicts an overhead, outlined view of the property, with suggested uses for various segments printed in white lettering. They include “Proposed tennis court,” “Proposed 1,500 square foot guest house,” and “Agricultural Reserve area … for proposed private vineyard, equestrian stable or organic garden.”
It’s a far cry from most listings, which usually lead with a dazzling glamour shot of the mansion.
“The existing five-bedroom modern farmhouse home has architectural plans for expansion with two more bedrooms, plus a formal dining room, sunroom, and large screened-in porch,” the description adds. Approval has already been obtained for an upgraded septic tank for up to 10 bedrooms.
“Moreover, the opportunity to build a new, equally impressive guest house in Amagansett is unheard of in the Hamptons,” notes the listing, which also elaborates on the rare Hamptons opportunity to build a tennis court.
What is the real reason behind Alec and Hilaria’s struggle to sell?
Real estate pundits and fans alike have been speculating for years about why the property hasn’t attracted a suitable buyer. Some have noted that the couple’s divisive nature, as highlighted in their short-lived TLC reality TV show, self-titled “The Baldwins,” may not have done the mansion any favors.
And of course, Alec’s own legal battles, stemming from manslaughter charges involving a fatal shooting on the set of the movie “Rust,” probably didn’t help the sale, even though those charges were dismissed in 2024.
But that was then and this is now, and when it comes to Hollywood scandals, the public has a short memory. The “ick factor,” as one agent put it, that once surrounded the home seems to have faded, and it seems that potential buyers are now more focused on the property’s virtues—or lack thereof.
The spacious, cedar-shingled modern farmhouse has been marketed as “simply unparalleled,” with five bedrooms, eight bathrooms, and abundant natural lighting. Other notable features include an eat-in kitchen, a dining room, a home theater, a wine room, and a wood-paneled library.
Outside, a fieldstone fireplace, gunite pool and spa, and a fenced vegetable garden are also attractive assets.
In addition, there are more than 1,200 square feet of covered porches and two upper-level balconies, which overlook the reserve to the south.
The “access to world-famous ocean beaches and Village living” is also a huge selling point.
But there are still a few drawbacks, according to some real estate experts who are familiar with the property.
“It’s not surprising that this property hasn’t sold yet, given the challenges it faces,” Jenny Lenz, managing director of Dolly Lenz Real Estate, tells Realtor.com®.
“Firstly, the location is not considered prime for most buyers. While Amagansett is trendy and idyllic, this property is north of the highway and off the beaten path, yet it’s priced as if it’s on a prime street in East Hampton or Southampton,” she notes.
And although the home shows well in the listing photos, Lenz adds that its style could also be a barrier for buyers.
“The house is quite dated for the current market,” she notes. “Buyers in this area are looking for more modern styles and either new construction or recently renovated homes.”
The generous acreage of the property and its uses may also be a drawback for some buyers.
While the house sits on an 8-acre parcel, “3.2 acres is reserved for agricultural use exclusively,” says Jonathan Yarton, a New York-based agent from “Selling the Hamptons” on HBO Max. He’s overseen a number of transactions in the Hamptons and is familiar with the Baldwin residence.
He says the acreage isn’t exactly a perk from everyone’s point of view.
“From an everyday buyer’s perspective, this sounds great since you don’t have to worry about neighbors,” Yarton says. “From the perspective of, say, a developer, this undercuts the usability of the land.”
Will highlighting the estate’s potential finally attract a buyer?
Diana Rafailova Schwartz, a licensed real estate broker and the founder of Aleph Realty, who represents high-end residential and commercial properties across New York City, the Hamptons, Miami, and Palm Beach, is optimistic about the potential in the home.
“Properties like this don’t come around often,” she says. “Ten acres of flat land in the Hamptons is incredibly rare: private, exclusive, and for buyers who want something unique, it’s gold.
“Among the ultrahigh net worth clients I work with, there are generally three types: Some want turnkey, move-in-ready homes. Others want to create something truly one-of-a-kind, customizing every detail. Some view real estate as a strategic investment.”
“This property sits between the second and third type, perfect for someone who wants to build a unique estate while also recognizing the value of prime land.
“It’s not an easy sell, but it will sell. It just takes time. In the ultrahigh-end market, speed is secondary to uniqueness and scale, and this property has both in spades.”
In other words, Rafailova Schwartz believes that the right buyer is someone who will enjoy the estate’s family assets, flexibility, and eventually, profit potential. It might take more time, but she has faith that the right buyer will step up to the plate.
What can Alec and Hilaria do to increase their odds of finding a buyer?
Up to this point, a traditional marketing strategy of highlighting the home’s turnkey virtues hasn’t borne fruit.
The home’s price fluctuations have been paired with other unique marketing tactics, including the 2023 gambit of Alec making a wistful YouTube video in which he described his fondness for the East Hampton hamlet of Amagansett and the 10-acre property he is still attempting to sell.
The video currently has 180,000 views, but it doesn’t seem to have moved the needle much.
Meanwhile, Hilaria’s recent promotion of the property saw her touting her favorite features of the property, including its proximity to the beach, the privacy, the size of the parcel, and the memories that the family have made there.
The former “Dancing With the Stars” contestant also highlighted the emotional connection her family had to the home, explaining the sentimental value of the dwelling.
But it may take more than happy memories and promises for expansion to finally snag a buyer, particularly given the competition in the Hamptons, where multimillion-dollar mansions are a dime a dozen on the local market.
Still, the Baldwins needn’t worry about moving on with their lives. After all, the Hamptons dwelling is not their main residence. It is, in fact, just a weekend and summer home they use when they want to escape the city.
In the meantime, they are making do in a sprawling Greenwich Village penthouse they bought in 2011, which they gradually added adjacent units to. It now measures roughly 4,100 square feet and has four bedrooms, 4.5 baths, and plenty of outdoor space.
There are reports, however, that they are trying to sell their penthouse compound privately, and once their two New York properties are in the rearview mirror, they’d like to head to California for a fresh start.
But the only constant in life for this family is the certainty that things will change eventually.