One of the largest land parcels in the Adirondacks, Whitney Park, is once again available for purchase after a Texas-based developer ended its $125 million contract to buy the property. Todd Interests withdrew from the deal due to restrictions in the will of John Hendrickson, the late owner, which prohibit selling the 36,600-acre estate to New York State.
According to reports from Adirondack Explorer, Todd Interests had proposed a 200-year lease of about 32,000 acres to New York State as an alternative solution. The proposal was intended to comply with Hendrickson’s will while still involving state stewardship. However, Governor Kathy Hochul’s administration declined this arrangement and insisted on a full purchase instead.
“This seems to be an unsolvable challenge,” Shawn Todd told the outlet, saying the company couldn’t deliver the state a fee-simple purchase without violating the seller’s instructions.
Trustee Edward Hendrickson confirmed that Todd Interests had exited from negotiations. As a result, Whitney Park is back on sale at its original asking price.
This marks Todd Interests’ second withdrawal from transactions related to properties owned by John Hendrickson and his late wife Marylou Whitney. Previously, they abandoned a $12.9 million option on Cady Hill in Saratoga Springs but had indicated that acquiring Whitney Park remained their main goal.
The stipulation against selling Whitney Park to New York State has complicated efforts for conservation groups who argue that only state or nonprofit ownership can guarantee lasting protection for over 6,000 acres of ponds and lakes and nearly 5,000 acres of wetlands included in the estate. Some legal opinions suggested that this restriction might only apply to current trustees rather than future buyers; however, representatives for Hendrickson’s estate disagree with this interpretation.
For Long Lake—a town with fewer than 800 residents—the outcome is significant because proceeds from any sale are designated entirely for municipal use and could represent several times its annual budget.
The trustees have stated their commitment both to maximizing value and preserving the property’s legacy but remain firm on not allowing state acquisition.
Whitney Park includes Camp Deerlands—a historic lodge with 17 bedrooms—and covers an area larger than Manhattan. The search continues for a buyer able to meet both financial expectations and conservation requirements.
