T
he rush of water over an 18th‑century mill wheel masks the disbelief that a 2,150‑acre horse farm in upstate Columbia County has just hit the market for a staggering $90 million. Mill Farm, spread across meadows, barns, and waterfalls in Ancramdale, sits roughly 100 miles north of Manhattan. Its owner, former Bear Stearns executive Daniel Slott, assembled the estate over 43 years and told the *Wall Street Journal* that keeping it intact would benefit the community. The $90 million asking price eclipses the previous Dutchess/Columbia record of $18.5 million and signals a new ultra‑luxury wave in upstate New York, a region once seen as either affluent or provincial by city dwellers.
Mill Farm’s grounds include ten homes, fifteen barns, and a converted 18th‑century mill that still houses Slott. Encircled by conservation land, the property offers a level of privacy and scale rarely found elsewhere in the state. “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,” said Jillian Pajer of Douglas Elliman. The pandemic‑era migration sparked interest, but brokers say the appetite has matured into a sustained demand for lifestyle and legacy.
Other high‑profile listings illustrate the trend. In Millbrook, the Hitchcock Estate listed for $65 million. Northward in the Adirondacks, Camp Iroquois—a 1906 Gilded‑Age compound that appeared on *Billions*—has entered contract, though the price remains undisclosed. The camp, spanning nine acres with twelve log‑and‑stone structures linked by covered walkways, was restored by owners Joe and Yvonne LoRe, who now rent it to multigenerational families for an annual income projected above $175,000.
The Catskills also see historic estates on the market. The Livingston family’s Lake Delaware Farm, a 1,600‑acre property that has never left the family’s hands, listed for $14 million. Built in 1787 by Gertrude Livingston and Governor Morgan Lewis, the 7,000‑square‑foot manor features marble mantels, a spiral staircase, and a 68‑acre private lake. The decision to sell was “emotionally brutal,” said descendant Elbridge Gerry.
In Tuxedo Park, the 151‑acre Renamor estate—once the retreat of Olympic fencer Robert Dow—hit the market for $29.5 million. Its 14,000‑square‑foot mansion and twin guesthouses occupy nearly one‑fifth the size of Central Park, offering a secluded log cabin with off‑grid power.
Brokers debate whether these prices reflect market reality or aspirational testing. Joseph Satto of Fresh Air Realty (Compass) notes that while the $90 million tag for Mill Farm is unlikely to be realized, it signals a “bump” in the luxury market. He attributes the shift to a new buyer profile: founders, tech CEOs, media heavyweights who have outgrown the Hamptons and seek more land, privacy, and legacy. “You’re getting a different kind of lifestyle and you’re getting a lot more bang for your buck,” Satto says.
The migration is not merely pandemic‑driven; it reflects a cultural recalibration. High‑earners now measure prestige by escape from Manhattan rather than proximity to it. Routes 27 and 87 have become metaphors: one leads to traffic, the other to trees. “It’s two and a quarter hours from Manhattan, and you’re in this idyllic setting,” Satto adds. He predicts that within a decade, ultra‑luxury buyers will normalize prices once thought implausible, with outliers beyond $10 million becoming more common.
Coldwell Banker’s Eric Amaral points to families and investors driving demand for large parcels that double as private sanctuaries. “The Hudson Valley has always been and still is incredibly undervalued,” says Jason Karadus of Corcoran Country Living. He calls the region “the most undervalued luxury market in the Northeast” and sees the $90 million listing as a declaration rather than a delusion. “We’re seeing a lot of people from California—both north and south—looking for luxury in the Hudson Valley,” Karadus notes, citing climate migrators drawn to temperate seasons and the absence of wildfire risk.
International interest is rising, fueled by global marketing and social media. “America is still a safe haven for larger commercial purchases as well,” Amaral says. The appeal lies not in nightlife but in the stillness after the city hum fades. Buyers seek permanence, roots, and the long‑term potential of the land.
Brokers agree that the market is pricing its ambitions ahead of sales, testing how far prestige can stretch beyond the commuter belt. Whether Mill Farm ultimately sells for $90 million, its symbolic value is already baked in. Each headline‑grabbing listing pushes the psychological ceiling higher, cementing upstate New York’s identity as the next luxury frontier. The Hamptons may still dominate the summer‑share economy, but the Hudson Valley quietly builds a sense of grandeur without spectacle, offering a rare blend of legacy, privacy, and natural beauty that redefines what it means to own a piece of the American dream.
