Amid Mounting Legal Woes, Alec Baldwin Cuts Price on His Longtime Hamptons Home | Kanebridge News
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Amid Mounting Legal Woes, Alec Baldwin Cuts Price on His Longtime Hamptons Home

The actor, who is now facing involuntary manslaughter charges over the fatal shooting on a movie set, just trimmed the price to $24.9 million

By LIZ LUCKING
Fri, Jan 20, 2023 8:56amGrey Clock 2 min

Actor Alec Baldwin dropped the price of his Hamptons estate by more than $4 million last week, just days before it was announced that he will be charged with involuntary manslaughter for the fatal shooting of cinematographer Halyna Hutchins on the set of the movie “Rust.”

On Thursday, prosecutors in New Mexico announced that Mr. Baldwin, a producer and lead actor in the Western film, will be charged with two counts of involuntary manslaughter. He was handling the gun that discharged, killing Hutchins and wounding the movie’s director, Joel Souza, on Oct. 21, 2021.

Mr. Baldwin’s multi-acre compound in Amagansett first hit the market in November with a $29 million sticker price. Last week, the ask was trimmed to $24.9 million.

At the centre of the estate is a more than 10,000-square-foot modern farmhouse. “Every detail of this impeccable two-story cedar shingle retreat has been curated to maximise indoor/outdoor space and utilise natural light throughout the year,” said the listing with Scott Bradley of Saunders & Associates.

The four-bedroom home boasts features including an eat-in kitchen, a movie theatre, a wine tasting room and a wood-panelled library. Plus there’s covered porches and two balconies that overlook the surrounding nature reserve.

Outside, a custom pavilion with a fieldstone fireplace is joined by a gunite pool and spa, as well as a fenced vegetable garden.

“This is a once in a lifetime opportunity to own an iconic 10-acre Amagansett estate,” Mr. Bradley told Mansion Global over email. And for potential buyers in need of a little more space, they “have the right to build another home, creating an uncompromising multi-home compound which is unheard of anywhere in the Hamptons today.”

Mr. Baldwin, 64, has called the pastoral spread home since 1996, when he purchased it for $1.75 million, listing records show.

In addition to charges against Mr. Baldwin, Hannah Gutierrez-Reed, the film’s armorer, will also be charged with two counts of involuntary manslaughter. Like Mr. Baldwin, she denies any wrongdoing in the incident.

Dave Halls, the assistant director who handed Mr. Baldwin the gun, signed a plea agreement “for the charge of negligent use of a deadly weapon,” the district attorney’s office said Thursday.

“This decision distorts Halyna Hutchins’s tragic death and represents a terrible miscarriage of justice. Mr. Baldwin had no reason to believe there was a live bullet in the gun—or anywhere on the movie set,” Luke Nikas, a lawyer for Mr. Baldwin, said in a statement. “He relied on the professionals with whom he worked, who assured him the gun did not have live rounds. We will fight these charges, and we will win.”

The Emmy award-winning Mr. Baldwin, who couldn’t immediately be reached for comment, is best known for his role in films like “The Hunt for Red October” and “The Departed.” His TV resume includes a starring role in the sitcom “30 Rock” and most recently he regularly portrayed Donald Trump on “Saturday Night Live.”

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The Australian capital setting a new record for property value falls

Property values have fallen hard and fast in this popular city, but it’s done little to dent pandemic rises

By KANEBRIDGE NEWS
Mon, Jan 30, 2023 2 min

Highest property values, biggest dip the next. That’s the outcome for Australia’s northernmost capital on the east coast, with Brisbane property values recording their largest and fastest decline, data from Corelogic reveals.

The fall comes just seven months after values hit their peak after a population surge driven by the pandemic saw an increase of 43 percent. Home values hit a record high on June 19, 2022 but have since declined 10.9 percent, in parallel with eight consecutive interest rate rises since April last year.

Historically, peak-to-trough declines in Brisbane have lasted 14 months and have ranged from value drops of -2.9 percent to -10.8 percent. While the new record is just -0.1 percent compared with previous figures, that fall came over 21 months between April 2010 and January 2012. The latest decline was a much swifter seven month drop.

CoreLogic head of research Eliza Owen said it is worth putting the Brisbane figures into context with the rest of Australia’s capital cities, as well as considering the significant rise in property values in the Queensland capital over the pandemic.

“Brisbane now stands out as one of two capital city markets with record declines, the other being Hobart,” Ms Owen said. “Sydney continues to have the largest peak-to-trough falls of the capital city markets (currently at -13.8 percent), while peak-to-tough falls remain mild in some cities (such as Perth, where values are down just -1.0 percent from a recent peak in August 2022).” 

“The record fall in Brisbane home values has not made much of a dent in the gains made during the upswing. The fall in the Brisbane daily HVI follows an upswing of 43.5 percent between August 2020 and 19 June 2022, which was the fastest trajectory of rising values on record. This leaves home values across Brisbane 27.9 percent higher than at the previous trough in August 2020.” 

The median dwelling value in Brisbane jumped from $506,553 at the start of the pandemic in March 2020 to $707,658 by the end of last year, Ms Owen said.

“Despite the large decline from peak, Brisbane maintains the third highest gain in value of the capital cities since the start of the pandemic,” she said. 

“Only Adelaide and Darwin, which are 42.8 percent and 29.6 percent higher respectively than at the onset of the pandemic, have performed stronger. 

“For this reason, there is marginal risk of negative equity for Brisbane homeowners, with the exception of very recent buyers, who purchased around the peak in June 2022 with less than a 20 percent deposit.” 

However, there are signs of resilience in the market. Brisbane remains a more affordable option compared with the other east coast capitals, Ms Owen said.

Although housing values remain higher than pre-COVID levels, Brisbane retains a lower price point than Sydney, with a $435,170 difference in median house values and $280,749 difference in median unit values,” she said. 

“The gap between Brisbane and Melbourne housing values is also significant, with a $119,697 gap between median house values and $97,692 difference in median unit values.

“This could encourage ongoing housing demand from those willing to migrate to the state, or own an interstate investment.” 

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