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An Unsolvable Challenge’: Whitney Deal Falls Through Deal Collapses Due to Gridlock Caused by Restrictions on State Ownership
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$125M Whitney Park estate deal falls through in the Adirondacks
The sale of the 36,600-acre Whitney Park estate in the Adirondacks to Texas developer Todd Interests has failed after six months. The $125 million deal collapsed due to restrictions preventing state ownership of any of the land. A final compromise—a 200-year lease of 32,000 acres to the state—was proposed to bypass the estate terms of the late John Hendrickson, who had opposed state ownership due to poor stewardship of a previous land sale (citi…
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