When a buyer is found for the sprawling 36,600-acre Adirondack estate listed at $180 million, the town is poised to receive a windfall.
By James M. Odato
Long Lake’s financial picture blossomed unexpectedly this winter as the historic lumber town found out it is designated as the sole beneficiary of all proceeds of the sale of John Hendrickson and Marylou Whitney’s vast tract of Adirondack forests, waters and trails known as Whitney Park.
The property has been on the market for $180 million and any money from the sale can be used without restrictions by the town.
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“It’s going to have a huge impact on the community,” said Long LakeSupervisor Clay Arsenault on Saturday.
With a budget of about $5 million and fewer than 800 residents, Long Lake could receive sums well beyond its tax levy for years. He calls the gift “a profound and positive impact for generations to come.”
Read the latest on Whitney Park
Whitney Park estate administrator Edward Hendrickson says the property will be listed soon, with sale proceeds to benefit Long Lake. Questions remain about whether the state or land trusts could play a role in the purchase.
Big news for Long Lake
Arsenault learned of the wishes of John Hendrickson, the owner of the property who died last summer, in a private meeting Feb. 27 with Hendrickson’s estate executors.
Hendrickson was the widower of Marylou Whitney and inherited her wealth when she died in 2019. The Saratoga Springs socialite became the heiress of the multimillion-dollar estate of her late husband, Cornelius Vanderbilt Whitney, who died in 1992, five years before she wed Hendrickson, a former public official in Alaska.
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Hendrickson’s brother, Edward Hendrickson of Anchorage, Alaska, and co-executor Caroline Steuer, of Saratoga Springs, informed Arsenault in a Zoom meeting that proceeds on the public sale of the 36,600 acres in Hamilton County are destined for the Long Lake treasury. The revelation came in a meeting at the Long Lake office of Whitney Industries, a logging and wood products company, with Edward J. Martin, a Saratoga Springs lawyer who represented the estate.
Arsenault, 47, a life-long Long Lake resident, said he should live to see multiple uses of the funds, such as for a new town office building or water infrastructure. He said he was bound by confidentiality but disclosed the news to town board members the day of the news and didn’t unveil it to the general public until a special town board meeting Friday. The session was called to discuss the “long term financial planning for our town.”
The two dozen people who showed up found out that Long Lake is going to have a lot to discuss with its financial planning advisors in the days ahead.
“It’s almost too early to tell because it’s not even on the market yet. The estate did tell me it would be listed at less than $180 million.”
Long Lake Supervisor Clay Arsenault
Plans for Whitney Park
The Hendrickson’s executors are following the wishes of John Hendrickson, who did not want the state of New York to acquire the property given his disenchantment with its stewardship of some of what was part of the park — 15,000 acres of Whitney land New York acquired from the family, said Arsenault.
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Arsenault had discussed future plans for Whitney Park, such as conservation easements, with Hendrickson. Hendrickson disliked that Little Tupper Lake, part of the 15,000 acres New York bought for more than $17 million in 1998 to create the William C. Whitney Wilderness, became mixed with non-trout species after the state took ownership. He didn’t want the state having anything to do with the remaining acreage.
Edward Hendrickson said in an email that he and Steuer “are honored to carry out John’s wishes for the wonderful people of Long Lake.” He said John and his wife loved the people of the town. “It was in their Adirondack home they felt most at peace,” he said. “It was John’s hope that this would benefit the people of Long Lake for generations to come.” He said he has not yet been in contact with state representatives in connection with his brother’s former assets.
RELATED READING: John Hendrickson’s will: Whitney Park estate decisions ahead
A few months after Hendrickson died in August at age 59, a coalition of nonprofit groups focused on the wellbeing of the environment, wrote to Gov. Kathy Hochul. They urged her to do what she could to protect Whitney Park, billed as the last big chunk of Adirondack wilderness remaining for potential acquisition. They wished for it to be added to the Adirondack Forest Preserve or conserved through easements.
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Representatives of the eight groups that wrote to Hochul said they are happy to see the town benefit from the sale of the property, but hope there is still a chance for protection and access for the public.
John Sheehan, communications director for the Adirondack Council, said the property owners have enjoyed timberland tax abatement for almost 100 years that has saved them hundreds of thousands of dollars a year in local taxes.
The deal froze the land assessment at 1926 values, which is good for at least $900,000 in savings annually to the owners, he said.
‘A bargain price’
The property has a few homes, including Deerlands, a camp used by the Whitney family and Hendrickson. It also has 32 lakes and ponds plus more than 100 miles of roads and trails, according to the ad Hendrickson ran in Bloodhorse a few years ago when he first tried to sell it.
Maureen Lewi, of Saratoga Springs, a close friend of Hendrickson, said she visited Deerlands a few hundred times and knows Whitney Park well. She thinks the 36,000 acres has been advertised at a bargain price. “It’s worth that and 10 times more; there’s nothing like it east of the Mississippi,” she said.
Martin, the attorney for Edward Hendrickson and Steuer as fiduciaries of the estate and the trust that holds John Hendrickson’s assets, said he is unable to share details at this time. But, he said, his clients are in the “early stages of a long process” to honor and fulfill John Hendrickson’s directions and add to his “amazing legacy.”
That is the “legacy of generosity in life and in death,” added James A. Murphy, a Saratoga County lawyer and former judge who helped with the announcement.
Lewi said Hendrickson planned for the Whitney Park gift to the town, the recipient of many financial donations from Hendrickson and Whitney over the years, even before his wife died and with Whitney’s blessing.
Several potential well-heeled purchasers have looked at the land, Lewi said, including one who mentioned building a runway or landing strip for a small airplane. She said Hendrickson valued the quiet offered within the “pristine” setting of Whitney Park.
Arsenault, who said the town’s finances are already in solid order, said it’s the estate’s business as to who buys the property.
“I wish whoever takes it will be good stewards of the land like the Whitneys and Hendricksons, but at the end of the day that decision isn’t up to the town,” he said. “Our responsibility is to faithfully honor the intent of John’s generous gift and insure the funds are used in a way to benefit the community as a whole.”
Photo at top: Aerial in the central Adirondacks. Part of Whitney Park is seen here with the Whitney camp on Little Forked Lake. Photo by Nancie Battaglia
The story was updated to include lawyer comments and those of Edward Hendrickson.
Edit… Should have left the land to the state and town instead so that it would not thus not risk development pressures
There was bad significant blood between he and NYS.
I agree. While Hendrickson is certainly being extraordinarily generous in willing the proceeds of the sale of the estate to the town, the truly amazing and beneficial thing would have been to give the land to the town, and let them figure out how to sell or transfer it.
The financial windfall for the town of Long Lake certainly will be a great advantage to them, but to what use will the land be put? If someone pays $180 million for the land, they will probably expect some return on their investment, and that will require development of some sort. More people, more impacts on resources and the environment, and spurring even greater development. Perhaps the new owner can make the deal with the state to sell the land that Mr. Whitney refused to do.
It is a great idea to donate the benefits of the property sale to the Town of Long Lake. It is well-deserved and will help secure the well-being of the town and its residents. The generosity and thoughtfulness of that gesture should be acknowledged and celebrated.
Since they were opened to the public, I’ve spent a lot of time paddling, hiking and camping on Lake Lila, Round Lake, Little Tupper, as well as the many smaller ponds in the area. I couldn’t disagree more with Hendrickson’s blaming NY State and the NYDEC for the introduction of invasive species into Little Tupper. He had no way of knowing when the introduction was done; it could have happened when he owned it and it just took time for the population to increase to the point that it became evident; at that point, the land was already turned over to the NY State.
Putting that aside, preventing the introduction of non-native fish in a body of water the size of Little Tupper is virtually impossible to do. Prevention rests with the users (primarily fisherman) – they have to obey the regulations, exercise care and not do anything to jeopardize the native fish population. I’ve heard rumors since Little Tupper was opened to public that non-native fish were introduced on purpose. I really doubt that; more likely, it was carelessness on someone’s part. The fact that Hendrickson harbored a grudge, blamed the State and took it to the grave with him so that the people of New York State wouldn’t have opportunity to visit and enjoy the area is very sad and truly a shame.
So the Whitney estate has been around for 120 years. The brook trout strain in Little Tupper lasted until public access.
So, he basically donated the land to the town of Long Lake. They could buy it for any amount (maybe with a short term loan) and immediatley get a full refund, and they’d own the entire property. Then Long Lake could preserve the land, which is what they should do.
But they would have to pay the taxes on that land. How would they do that without developing it? There lies the rub.
The town of Long Lake should take out a loan like Jeff commented above.
They end up with the asset and the proceeds less selling cost. Which can be carried over in the loan and payed for by selling part of the acreage.
These transactions never go as one wishes.
Oh the lights must be burning late in Albany at the Governor’s office, NYSDEC, APA, NYS Democratic leadership and the Environmental lobby to come up with sceam to take the property from the town. More dirty backroom deals.
The state has enough land for every tree hugger in NY enough is enough . They always want more land for the state to buy and use .These people are usually non Adirondackers who come from the flat lands to tell us ,the locals what we can ,should and you will do with the Adirondacks as a whole.
Peter Bauer and John Sheehan are the leaders of these tree hugger groups for years they fight against every form of development in the Adirondacks, they have contributed nothing to improving
the lives of the people who live and WORK here. Good for the town of long Lake I hope that money
is used to help promote what a special place long lake really is.
Tom Paine & Jeff,
The Town of Long Lake will NOT own the land. The gift to the Town of Long Lake is the “Net Proceeds of the Sale” of the land.
Whoever or whatever buys the property will own the land. The owners will only be able to develop the land to the extent the APA, NYS Health Dept., and the DEC allow.
The best use of the land would be for recreation, privacy and one of the last Privately owned large pieces of the Adirondack Park 4 1/2 hours from NYC and 3 hours from Montreal.
OK, NICE IDEA, NO WAY WILL THIS EVER SELL FOR $180 MILLION. This makes for big headlines but just like the original asking price when it first went on the market some years ago, the property isn’t worth anywhere near $5,000/acre. While some of the land (especially if it includes the main house) might be worth more, most of the land is remote, barely accessible and not prime. Large tracts like this are primarily based on the timber value and this property has been mostly timbered off over the years. You look at softwoods vs. hardwoods and the value plus time to recover. Whitney Industries has done a good job managing it, but it takes about 20 years for softwoods to regrow (pulp type trees) and about 80+ years for hardwoods to come back. Much of this has been timbered off and replanted with years to go before it can be cut again. Per acre value of that type of land would be a fraction of $5K/acre. So bottom line here, even if you over value the residential parts (and the main house is not a classic old great camp as it was a new build some years back) the real value is at best $35-40 million as it sits TOPS. Will be interesting to see how the sale proceeds are to be actually distributed, but it sounds like Long Lake doesn’t get the money until it is sold? At that price, don’t hold your breath!! Seems to me it would be better off being placed in to some type of forestry managment trust with profits to be doled out to the Town of Long Lake on an annual basis. Certain parts could be sold off shore term (like main house and maybe divide up some of the better lakefront properties for sale and careful development) and keep the rest in forestry use forever. I think it will be interesting to see how this unfolds. Certainly the intention as a gift to the town is an amazing opportunity.
I’m not foolish enough to predict what crazy rich people might pay, but I’m inclined to think $180 million is only slightly less crazy than one person’s personal fondness making them think it’s worth “that and 10 times more”. Maybe there are other useful comparisons I don’t know about, but when Jack Ma bought Brandon Park’s 28,000 acres 10 years ago he paid about $825 an acre. Factor in the 10 years and the possibility that the property might be slightly nicer on average, and I’m willing to consider that maybe as much as $70 million could be realistic. I’m assuming there are a lot more than 800 property owners in Long Lake so as a practical matter I see this as an individual gift to large number of individuals who were strangers to Hendrickson that could pay about half of their annual property tax bill for quite some time. That strikes me as a less than rational reaction to being unhappy about how the state managed the Whitney wilderness, especially since the state will still maintain some control over the property, and could potentially acquire it and manage it in about the same way. Probably even crazier if it’s about the fish. I’m inclined to think that William’s suggestion that it may have happened accidentally (did fishermen bring their catch from earlier in the day and inadvertently lose it while fishing at Little Tupper?) seems less likely than deliberate effort to “improve” the fishing, but I agree that it would be unrealistically difficult for the state to prevent it however it happened. At any rate here we are, and I guess we’ll just have to wait and see if the greater public benefits from more access, along with management that Hendrickson would presumably disapprove of, or if the property remains private and largely inaccessible, with just the benefit to the owners in Long Lake.
This is what people in the Adirondacks should be concerned about: https://www.gocomics.com/crankshaft/2025/03/09
Congratulations to the Town of Long Lake as the remarkable, generous impact of the Whitney’s/Hendrickson’s will continue to be felt there far into the future. Some selectively, strategically added public forest preserve seems warranted from ecological, recreational, and local tax revenue standpoints, especially if it joins up to the 15,000 acres acquired from Mrs. Whitney in 1998. Adirondack (and Catskill) forest preserve is taxable for all purposes.
I would like to see the town offer tax breaks for the residents, (not second home owners like myself). With the high cost of property etc it is difficult for them to keep and maintain their homes. This would go a long way to keep young adults and families from moving away.
This tract should be part of the forest preserve, for sure.