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Upstate New York, vaguely identified as anything geographically north of New York City, is defined by its picturesque colonial-themed towns, dock-lined lakes and countless creek-fed, tree-choked valleys.
Its sprawling hillsides and quiet country roads have long attracted the attention of city dwellers looking to avoid the clichéd second home submarkets of Long Island’s coastal enclaves.
Second home co-ownership company Pacaso is hoping the region’s appeal doesn’t fade as winter approaches. It has partnered with NevelHaus, a custom builder of modern eco-homes, to expand its presence in New York’s Hudson Valley, according to a Dec. 7 company announcement.
Pacaso’s CEO, Austin Allison, said this partnership is a first for the company.
“We’ve had many buyers ask us since we launched in late 2020 when we’re heading to New York,” Allison said in the release. “We are really excited and eager to respond to that demand with the first Pacaso in a first-of-its-kind collection of luxury homes in the historic Hudson Valley.”
NevelHaus will construct a community of its unique homes on a 44-acre parcel in Stone Ridge, New York. The company defines its models by numbers, 52, 56 and 60, referring to the respective home’s required footprint length.
Each of NevelHaus’ carriage house designs is infused with modernism, characterized by open floor plans and floor-to-ceiling glass openings, meant for simple living and depicting smart, low-maintenance architecture.
Shares will soon be available in a 2,825-square-foot, “60” home being built on a 2.4-acre lot. The home has “a 30-foot vaulted ceiling, 9-inch wide plank European white oak flooring, a cozy wood-burning stove, custom oak cabinetry with integrated appliances, bathrooms with heated radiant flooring and a cozy reading nook and office,” according to Pacaso’s listing page. The home comes with a saltwater pool and outdoor shower, a detached two-car garage and as with all Pacaso homes, it’s fully furnished. The home is located within two hours of the city and adjacent to Minnewaska State Park and Mohonk Preserve.
Pacaso’s co-ownership model makes second homes available to more people, and the majority of them can be found on the higher end of the luxury market in considerably exclusive locations, such as Malibu, the Florida Keys, Aspen and Jackson Hole. However, this property represents a notable departure from such locations and home type. The NevelHaus models call deliberately to the more intentional investor seeking solitude and privacy over pride of address and prestige.
Pacaso works with any homebuyer agent who has clients interested in co-ownership of its many second homes and pays three percent referral fees and 500 RSUs, or restricted stock units, in Pacaso equity. The company also hires local management teams and service providers to care for their homes and owners.
“We’re thrilled to be working with Pacaso on its first foray in New York State in the beautiful Catskills and Hudson Valley region,” said NevelHaus co-founder Pelle Hamburger in the statement. “Like Pacaso, NevelHaus was created with the idea of simplicity at the heart of our process to customize and purchase second homes.”
NevelHaus homes are conceived by INC Architecture & Design.
