A sprawling 2,150-acre horse farm in Columbia County, New York, has been listed for sale at an unprecedented $90 million, signaling a major shift in the region's high-end property market. The listing for Mill Farm far surpasses the area's previous residential sales record of $18.5 million and highlights a growing trend of ultra-wealthy buyers looking beyond traditional luxury enclaves like the Hamptons.
Key Takeaways
- A Columbia County property listed for $90 million is redefining luxury real estate values in upstate New York.
- Real estate experts report a significant migration of high-net-worth buyers from the Hamptons to the Hudson Valley, Catskills, and Adirondacks.
- The new wave of buyers prioritizes privacy, vast acreage, and a discreet lifestyle over the social scene of other luxury markets.
- Several other historic estates with price tags from $14 million to $65 million are also on the market, underscoring the regional trend.
Record-Setting Listing Signals Market Shift
The property at the center of this market recalibration is Mill Farm, located in Ancramdale, about 100 miles north of New York City. Assembled over 43 years by former financier Daniel Slott, the estate includes 10 houses, 15 barns, and a restored 18th-century grist mill. The $90 million asking price has become a symbol of what many brokers are calling upstate New York's first true ultra-luxury moment.
According to reports, the highest price ever paid for a home in the surrounding Dutchess or Columbia counties was $18.5 million. The Mill Farm listing is nearly five times that amount, establishing a new psychological and financial benchmark for the region.
A Market in Transition
For decades, upstate New York was known more for its modest farmhouses, artist colonies, and rural quietude. While affluent communities have always existed, the region was not typically associated with the nine-figure estates common in other luxury hotspots. The COVID-19 pandemic accelerated interest in the area, but brokers say the current trend represents a more permanent evolution in buyer preferences.
Jillian Pajer of Douglas Elliman told The Post that the region's appeal lies in its unique combination of attributes. "Upstate New York is commanding record-setting prices because it offers a rare blend of scale, privacy and culture that’s almost impossible to replicate elsewhere in the state," she stated.
Historic Estates Attract New Generation of Buyers
The trend extends beyond a single property. Across the Hudson Valley, Catskills, and Adirondacks, a number of significant estates are now available, many for the first time in generations. These properties are attracting a new class of buyer interested in history and legacy as much as luxury.
Notable Upstate Luxury Listings
- Hitchcock Estate (Millbrook): Listed for $65 million.
- Renamor (Tuxedo Park): A 151-acre Gilded Age retreat on the market for $29.5 million.
- Lake Delaware Farm (Catskills): A 1,600-acre estate owned by the historic Livingston family, listed for $14 million. This is its first time on the market in 238 years.
Further north, in the Adirondacks, the Gilded Age compound Camp Iroquois recently went under contract. The property, which was featured in the TV show "Billions," sits on 9 acres along Upper Saranac Lake and includes 12 distinct structures. Its sale price has not been disclosed, but it contributes to the narrative of a region gaining traction with elite buyers.
The Appeal of History and Privacy
The 1,600-acre Lake Delaware Farm in the Catskills has been in the Livingston family since 1787. Descendants include U.S. presidents and first lady Eleanor Roosevelt. Its nine-bedroom manor, private 68-acre lake, and Olmsted-designed landscape represent an era of aristocratic country living that now appeals to modern high-net-worth individuals seeking tranquility.
Elbridge Gerry, a descendant, described the decision to sell as "emotionally brutal," highlighting the deep historical roots of these properties that are now entering the open market.
A Different Kind of Luxury Buyer
Brokers in the region observe that the profile of the upstate luxury buyer has changed. The new clientele often includes tech founders, CEOs, and media figures who find the social scene of the Hamptons less appealing.
"For some people, they don’t want the scene of the Hamptons. It’s definitely more low-key kind of buyers … celebrities and other people that want to be up here for privacy’s sake," Joseph Satto of Compass told The Post.
Satto, who heads the Fresh Air Realty team, suggested that while some of the high asking prices may be "aspirational," they reflect a genuine increase in demand from this new demographic. He noted that buyers see greater value upstate compared to other luxury markets.
"They see what they can get in the Hamptons and then they see what they can get upstate for $2 or $3 or $4 million. You’re getting a different kind of lifestyle and you’re getting a lot more bang for your buck," Satto explained.
Jason Karadus of Corcoran Country Living echoed this sentiment, calling the Hudson Valley "the most undervalued luxury market in the Northeast." He also pointed to a new factor driving interest: climate change. "We’re seeing a lot of people from California — both north and south — looking for luxury in the Hudson Valley," he said, identifying them as "climate migrators" seeking refuge from wildfires and extreme weather.
Future of the Upstate Market
While few expect Mill Farm to sell for its full $90 million asking price, its presence on the market is a powerful statement. Real estate professionals believe it elevates the entire region's profile and will gradually normalize higher prices for premier properties.
Eric Amaral of Coldwell Banker Village Green Realty noted a corresponding rise in business investment. "I’m seeing more investors and high-end buyers moving their business here too," he said. "Large land parcels tend to do well with buyers who crave privacy."
The consensus among experts is that upstate New York is transitioning from a weekend getaway destination to a primary hub for a certain type of wealthy individual who values space, seclusion, and heritage over spectacle.
As these historic and expansive properties continue to attract national and international attention, the region is solidifying its new identity. It is no longer just a rural escape, but a burgeoning frontier for ultra-luxury real estate in the United States.
