When Academy Award winner Emma Stone and her husband, producer Dave McCary, first purchased their Austin estate in 2021, they envisioned building a family life in Texas while expanding their entertainment empire.
Saying Goodbye to Texas
Now, three years and one successful production company later, the couple is listing their meticulously restored Tarrytown property for $26.5 million. The decision reflects a fundamental reality: sometimes, entrepreneurial success requires difficult choices about where to focus time, energy, and capital.
According to the Austin American-Statesman, the couple acquired the Tarrytown property during Austin’s peak appeal to tech and entertainment professionals seeking alternatives to coastal markets. Their listing now represents the most expensive residential offering in the city, reflecting both the premium they placed on the location and the substantial capital improvements invested over three years of renovation.
The divestment strategy aligns with the expansion of their production company, Fruit Tree, which has generated significant returns since its 2020 launch, the New York Post reports.
As listing agent Eric Moreland noted to The Wall Street Journal, the couple’s business interests have expanded considerably, making continued ownership of the Austin property financially inefficient. This decision illustrates how successful entrepreneurs must constantly evaluate asset allocation against operational demands.
The 1.24-acre compound showcases institutional-quality restoration work that positions it favorably in Austin’s luxury market.
The 10,000-square-foot main residence, complemented by a two-bedroom guesthouse and entertainment facilities, represents the type of executive-level property that attracted numerous high-net-worth individuals to the Austin market during the pandemic migration period. The extensive renovation included infrastructure upgrades and custom millwork installation, investments that typically enhance long-term asset value.
Stone’s real estate strategy demonstrates sophisticated portfolio management across multiple markets.
Her systematic divestment from West Coast properties, including profitable sales of Malibu and Los Angeles homes in 2022 and 2023, respectively, preceded this Austin exit. The pattern suggests a consolidation strategy focused on her primary Manhattan residence, valued at approximately $12 million, which provides optimal access to industry networks and business opportunities.
The timing coincides with Fruit Tree’s accelerating production schedule and award recognition, including Stone’s recent Oscar win for “Poor Things.”
The company’s success with projects like “A Real Pain” has likely created capital deployment opportunities that compete with real estate investments for management attention and financial resources. For entertainment entrepreneurs, proximity to industry infrastructure often outweighs lifestyle considerations in location decisions.
Austin’s luxury real estate market faces a crucial test with this high-profile listing.
The city attracted significant celebrity and executive investment during the 2020-2022 period, driven by favorable tax policies and business climate initiatives. However, the return migration of some high-profile residents suggests the initial enthusiasm may be moderating as business priorities reassert themselves.
The property’s architectural quality and location should attract qualified buyers within Austin’s growing executive population. The Tarrytown neighborhood maintains its reputation as a premier residential district, and the estate’s completion timeline aligns with summer buying patterns typically favored by relocating executives.
Stone’s exit strategy reflects broader trends among entertainment industry entrepreneurs who initially diversified geographically but are now concentrating in traditional industry hubs.
The decision prioritizes operational efficiency over geographic diversification, a common evolution as businesses scale and require more intensive management focus. Her Austin investment, while brief, demonstrates the calculated risk-taking that characterizes successful entertainment industry portfolios.
