$29.5m New York estate heads to auction with bids starting at just $5m

For more than a year, Renamor sat on the market waiting for someone willing to pay nearly $30 million for a piece of old New York grandeur. No buyer came forward and even a multimillion-dollar price cut failed to move the property. Now, the 151-acre estate in Tuxedo Park is taking a very different route to a sale, reports the New York Post. Instead of another price reduction, the sprawling French Provincial compound is heading to auction, where it could change hands for a fraction of its original asking price.Located at 120 Ridge Road in the secluded community of Tuxedo Park, Renamor returned to the market in 2025 after more than three decades away, adds the report. The estate initially carried a $29.5 million price tag. After failing to attract a buyer, the asking price was reduced to roughly $25 million.