The 21-acre property, which has been off and on the market since 2005, failed to find a buyer, possibly because of its high asking price - $30 million. In addition to the 11 bedrooms in the main house, the estate also comes with a guest house and an art studio. The home was designed by her ex-husband and architect Peter Cook.
The report quotes Brinkley's friend as saying, "There has been talk about putting it back on the market," adding, "But she's not leaving the Hamptons. She has other homes in the area she is currently renovating."
While another friend said that Brinkley is likely to be based in the Hamptons, she's eager to move on now that her kids are grown up. "She's looking to sell (the Tower Hill estate) while the market is hot," a source told Page Six.
While her 18-year-old son Jack has already enrolled at Emerson College in Boston, Sailor, who will be 16 this July, is a sophomore at the Ross School. Brinkley also has daughter Alexa Ray, 28, from her second marriage to pop superstar Billy Joel.
Brinkley's friends told the website that, as per her divorce settlement with Cook in 2008, Brinkley needs to reside anywhere within a 25-mile radius of the Tower Hill estate until the former couple's children complete their schooling, meaning the 60-year-old model is forced to stay in the Hamptons for a few more years.
An earlier report says that Brinkley reportedly sold her North Haven home for $10 million to Stuart Hersch, president of Cantor Fitzgerald, a popular investment firm in the United States. Although the original asking price for the home was $8.9 million, it seems Hersch took a liking to the property and paid much more than the listing price. Interestingly, the deal included a stipulation - that Hersch would never engage the series of architect Cook.
Brinkley rose to fame in the 1980s, when she appeared on more than 200 magazine covers, including adorning the consecutive swimsuit edition covers of Sports Illustrated from 1979 to 1981. She also appeared in a television series "National Lampoon's Vacation" in 1983 and "Uptown Girl," a video produced by Billy Joel.