In the Lower Hudson Valley, there was an 11% increase in the sale of properties priced over $1 million in 2014 even as total residential sales declined by 1%, according to Richard Ellis, broker and owner of Ellis Sotheby’s International Realty in Nyack. “I project we will see a 15% increase in 2015,” said Mr. Ellis, as affluent younger buyers continue to discover the region.
Greg and Laurie Beard, who live with their three children on Manhattan’s Upper East Side, were looking for a weekend getaway with good golf options when they were invited to a barbecue in Tuxedo Park, on the west side of the Hudson in Orange County. Created by tobacco magnate Pierre Lorillard IV in 1886 as a private hunting reserve and playground for his wealthy friends, Tuxedo Park is now a gated town with stately homes and a starchy country-club set amid lakes and woodland, 45 miles from New York City.
“It’s shockingly close, but you get inside the gates and you think you’ve been transported to Wisconsin,” said Mr. Beard, a 43-year-old private-equity manager.
Source WSJ By Amy Gamerman May 14, 2015