Texas Developer in Contract for $125M Adirondack Estate

A legendary upstate estate just sold to a Texas developer eyeing a luxury resort on the property.

Shawn Todd of Todd Interests is in contract to purchase the 36,000-acre Whitney Park in Long Lake and the Cady Hill mansion in Saratoga Springs, the Adirondack Explorer reported. The Whitney Park property recently hit the market for $125 million, or $3,425 per acre, after owner John Hendrickson died unexpectedly; the historic mansion was on the market for $12.9 million.

“At the asking price, I couldn’t get there fast enough,” Todd said.

Whitney Park was listed five years ago, its first time on the market in a century. The asking price was $180 million, or $5,000 per acre. Marylou Whitney inherited the property in 1992, but it passed along to her husband when she died in 2019; Hendrickson explored a sale in 2020, finding the estate to be overwhelmingly large and lonely after his wife’s death.

Todd appears to have his eye on a luxury resort for the huge swath of land. He also talked of exercising timber and mining rights, as well as installing a high-end golf course, fine dining and lodging for a wealthy clientele.

Edward Hendrickson, John’s brother, expects Todd to develop between 1,000 and 1,500 acres of the property. Environmental groups oppose the deal, viewing it as a missed opportunity for the state to step in to protect and conserve the land.

The estate features several homes, as well as lakes, ponds and streams. The main residence, Camp Deerlands, spans more than 7,000 square feet and has at least nine bedrooms. Camp Togus spans 5,600 square feet and has seven bedrooms.

The massive estate also includes tennis courts, a boathouse and a trapper’s cabin. Development is a possibility for the land, though owners would need to go through a permitting process with the town.

Dan Collins of Four Seasons Sotheby’s International Realty had the listing. Proceeds from the sale are earmarked for Long Lake, a gift Hendrickson provided for in the event of his death.

Closing is not expected until the fall.

— Holden Walter-Warner