Upstate New York is experiencing a remarkable surge in ultra-luxury real estate. The trend is highlighted by the $90 million listing of Mill Farm, a 2,150-acre estate in Columbia County, drawing attention from affluent buyers seeking space, privacy, and prestige.
Real estate experts say the shift represents a growing preference for expansive properties outside traditional luxury markets. Areas like the Hudson Valley, Catskills, and Adirondacks are attracting buyers who previously focused on high-end markets such as the Hamptons or Manhattan penthouses.
Mill Farm, one of the region’s most prominent listings, features a combination of historic architecture, modern amenities, and vast acreage. Its scale and privacy appeal to buyers looking for secluded retreats, investment opportunities, or second homes away from urban centers.
The trend reflects broader market dynamics. Rising interest in ultra-luxury homes is fueled by wealthy buyers prioritizing space, outdoor lifestyle, and exclusivity. The Hudson Valley, Catskills, and Adirondacks offer a mix of natural beauty, cultural attractions, and accessibility to major cities like New York City and Boston.
Local real estate agents note that inquiries for large estates have doubled over the past year. High-net-worth individuals are increasingly drawn to properties that provide both privacy and luxury, with many seeking multi-acre estates that allow for personal amenities such as equestrian facilities, vineyards, or private lakes.
“Buyers are looking beyond traditional luxury hubs,” said a market analyst. “Upstate New York combines elegance, land, and seclusion, which has become highly desirable among the ultra-wealthy.”
Developers and brokers in the region report that the demand for these properties has pushed prices higher. Homes that might have sold for $5 million five years ago are now listed at $10 million or more, reflecting both scarcity and growing buyer interest.
The Hudson Valley has emerged as a cultural and lifestyle destination. Towns like Rhinebeck, Hudson, and Millbrook offer historic estates, boutique shopping, fine dining, and access to scenic landscapes, making them attractive alternatives to coastal luxury markets.
Similarly, the Catskills and Adirondacks provide opportunities for recreational activities such as skiing, hiking, and boating, appealing to buyers seeking a combination of luxury living and outdoor adventure. These regions also offer a sense of privacy that is increasingly rare in densely populated areas.
The ultra-luxury market shift also reflects changing buyer priorities post-pandemic. Remote work and flexible lifestyles have allowed affluent individuals to consider homes farther from traditional city centers while maintaining access to essential services and cultural amenities.
Real estate professionals predict that Upstate New York’s ultra-luxury market will continue to grow. New listings are expected as more sellers capitalize on the strong demand for large estates and private retreats. This movement is reshaping regional real estate, attracting both domestic and international buyers.
Investors are also eyeing opportunities in this expanding market. The combination of exclusivity, location, and historical significance makes properties like Mill Farm not only luxury residences but also potential long-term investments.
While the market is competitive, the appeal of Upstate New York’s natural landscapes, privacy, and luxury amenities ensures sustained interest from high-net-worth buyers. The region’s transformation into a premier ultra-luxury destination marks a notable shift in the American real estate landscape.
As the trend continues, the Hudson Valley, Catskills, and Adirondacks are likely to see increased development and renovation of historic estates, solidifying their position as sought-after locations for the ultra-wealthy.
