Billy Joel, Alec Baldwin pull New York estates off market

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By Dan Sears

They’re not “Movin’ Out” after all.

In a bold move amid the uncertain tides of the real estate market, two iconic New Yorkers, Billy Joel and Alec Baldwin, have opted to retain their lavish estates, The Post has learned.

The legendary “Piano Man” singer, 74, made headlines in May when he listed his sprawling 26-acre estate in Oyster Bay for an eye-watering $49 million.

Records show Joel acquired the property, initially spanning 14 acres, in 2002 for $22.5 million.

Over the years, he expanded his domain by snagging adjoining parcels of land, creating a grand estate covering 30,000 square feet.

An aerial image of Billy Joel’s Oyster Bay property.
Tyler Sands/Daniel Gale Sotheby’s International Realty
The footprint covers 30,000 square feet.
Tyler Sands/Daniel Gale Sotheby’s International Realty
The estate hit the market at $49 million.
Tyler Sands/Daniel Gale Sotheby’s International Realty
Joel’s guest home includes an all-white luxurious kitchen.
Tyler Sands/Daniel Gale Sotheby’s International Realty
Joel performs onstage while celebrating his 65th birthday at Madison Square Garden on May 9, 2014.
Kevin Mazur/WireImage

While the six-time Grammy winner originally intended to part ways with his opulent abode, which is just three months from completion, insiders reveal that Joel has had a change of heart, deciding to keep the keys to his Oyster Bay kingdom a little while longer.

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Meanwhile, Baldwin, 65, tossed his Amagansett estate onto the market in September 2022, initially with a hefty $29 million price tag.

After a series of dramatic price slashes over the past year, culminating in a final listing price of $22.5 million, Baldwin has decided to pull the 10-acre retreat off the market.

The embattled “Rust” star acquired the five-bedroom property in 1996 for a modest $1.75 million.

The Post has reached out to reps for Baldwin and Joel for comment.

Alec Baldwin’s Amagansett estate features a pool and a spa.
Saunders & Associates
The rear of the home is pictured.
Saunders & Associates
The spread initially listed for sale late last year at $29 million.
Saunders & Associates
Baldwin attends the Leonard Bernstein at 100 press event at Stanley H. Kaplan Penthouse at Lincoln Center on May 9, 2017.

These multi-million-dollar decisions are playing out as soaring mortgage rates cast a shadow over the real estate landscape.

The average mortgage rates stand at 8.07% for a 30-year fixed and 7.24% for a 15-year fixed, contributing to the recent shift in the once hyper-competitive housing market.

The industry witnessed a meteoric rise over the last two years, with prices surging by a staggering 45%, bidding wars becoming commonplace, and homes swiftly vanishing from the marketplace.

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This feverish activity hit an abrupt halt last spring, as mortgage rates skyrocketed, doubling within a few months.

The sudden surge in costs has not only made buying a home more expensive but has also left many potential buyers frozen out of the market.

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