New York’s horse farm properties have not been immune to the downturn and are facing sharp price reductions in both high- and low-end markets, the New York Times reported. For those who once had to board their horses because they couldn’t afford a farm, this may be the time to enter the market.
In North Salem, the heart of Westchester’s horse region, a three-bedroom, two-and-a-half-bathroom renovated farmhouse with a three-stall barn and four acres is asking $895,000. Five years ago it would probably have asked closer to $1.3 million, according to Carol Goldberg, the listing agent for Vincent & Whittemore Real Estate…. [more]

Director Jim Burrows and the farm in Millbrook

When “Will & Grace” director Jim Burrows purchased a sprawling horse farm in Dutchess County, he cheekily named it “Willow Grace Farm” in honor of the sitcom.

“The show paid for most of the grass here,” he joked in a 2009 Elle Décor profile about the 194-acre Millbrook estate.

Now, the property may need a new name.

Last month, Burrows sold the farm for a record-breaking $15 million to legendary investor Jack Meyer, Harvard University’s longtime endowment manager, according to broker sources. The transaction closed Feb. 14, brokers said. … [more]