Baldwins Relist Hamptons Mansion for $19 Million

Alec and Hilaria Baldwin have relisted their Hamptons estate, known as Stony Hill Farm, for the fifth time, with an asking price of $18.99 million. The property was previously taken off the market on July 8, following multiple price reductions since its initial listing. The expansive estate features a five-bedroom, 6.5-bathroom primary residence spanning 8,556 square feet, situated on 5.06 acres of land with an additional 3.22 acres of agricultural reserve. The Baldwins first attempted to sell the property in 2022 for $29 million, nearly 30 years after Alec Baldwin originally purchased it for $1.75 million. Over the past four years, the couple has significantly lowered their asking price and moved the property on and off the market, at one point indicating they had reconsidered selling.

This latest listing introduces a new marketing angle, emphasizing a historical connection to actress Marilyn Monroe and her playwright husband, Arthur Miller. The Baldwins have enlisted a new agent and team, Lori Schiaffino and The Schiaffino Team at Compass, to manage the sale. According to an Instagram post shared by The Schiaffino Team, Monroe and Miller reportedly spent summers in 1957 and 1958 in the vicinity of Stony Hill Farm, with their nearby farmhouse said to overlook the current estate. This narrative aims to attract potential buyers by associating the property with Hollywood history.

The property's journey on the market reflects a notable price adjustment from its initial $29 million valuation in 2022. The repeated relisting and price cuts indicate a challenging sales process for the Hamptons estate. The Baldwins' strategy now includes leveraging the property's purported links to Marilyn Monroe, a move designed to enhance its appeal and potentially secure a buyer. The estate's history includes Alec Baldwin's acquisition of the property for $1.75 million, a stark contrast to the current asking price, highlighting the significant appreciation in value over decades, though the current market performance suggests a struggle to meet the Baldwins' valuation.

The renewed effort to sell Stony Hill Farm at $18.99 million, coupled with the new historical narrative, marks the latest chapter in the property's complex sales history. The inclusion of Marilyn Monroe's past presence in the area aims to add a layer of allure and prestige to the estate, a tactic often employed in high-value real estate transactions. The success of this strategy remains to be seen as the property re-enters the competitive Hamptons market.