The estate’s Residential Commercial High Density-Lake Shore zoning (RCH-LS) presents unparalleled potential for future development, permitting up to three units per acre. The Evaley offers a canvas to conceive an exceptional luxury community or an innovative mixed-use sanctuary. Imagine curating a space that reflects the tranquil landscapes reminiscent of Inness or the charming allure of a wildflower farm, merging sophistication with serenity.

Boundless Development Possibilities

The Lake George real estate market in end of year 2024 presents a prime opportunity for investment. The number of sales has risen by 10.43%, and new listings are up 9.38%, reflecting strong demand and growing inventory. Notably, the average sales price has surged by 18.25%, and the average list price has increased by 23.88%, signaling significant appreciation in property values.

At the same time, the median sales price and median list price saw slight declines (-8.77% and -6.85%), offering a unique window to secure a prestigious estate at a more favorable price point. With the average days on market down 4.88%, properties are moving faster, demonstrating buyer confidence and heightened interest. This creates a compelling opportunity to acquire or transform a historical estate into a boutique hotel or a timeless family retreat, leveraging Lake George's growing appeal and upward market momentum.

Lake George Market Data

Land Observations

In addition to 2974 Lake Shore Drive, the property includes 24.83 lake view acres and an additional 1.53 lakefront acres.

Lot 1: 2974 Lake Shore Drive

  • Acreage: 4.93 Acres

  • Lakefront: 310 Feet

  • Road Frontage: 384 Feet on Route 9N

  • Zoning: RCH-LS (Residential Commercial High Density - Lakeshore)

  • Current Use: Features a historic mansion with potential for development.

  • Dock & Mooring Potential: Permitted to construct up to 3 docks (in various shapes) and 3 moorings, as per the Lake George Park Commission regulations​

Lot 2: Vacant Lake Shore Parcel

  • Acreage: 1.53 Acres

  • Lakefront: 160 Feet

  • Road Frontage: 112 Feet on Route 9N

  • Zoning: RCH-LS (Residential Commercial High Density - Lakeshore)

  • Current Use: A vacant lot ideal for residential or mixed-use development.

  • Dock & Mooring Potential: Permitted to construct up to 2 docks (various configurations) and 2 moorings, according to Lake George Park Commission regulations

Lot 3: 2963 Lake Shore Drive

  • Acreage: 24.83 Acres

  • Lakefront: None

  • Road Frontage: 1252 Feet on Route 9N, 570 Feet on Middle Road

  • Zoning: 

    • RCH-LS (Residential Commercial High Density - Lakeshore)

    • RM-1 (Residential Medium - 1)

  • Current Use: Includes two commercial buildings in need of repair.

  • Development Potential:

    • 6-7 acres in RM-1 zoning (Middle Road) allow for one unit per acre (6 units)

    • 18-19 acres on the west side of Route 9 permit three units per acre

    • 6.46 acres on the lakeside allow three units per acre

Key Features

  • Combined Acreage: 31.29 Acres

  • Total Lakefront: 470 Feet

  • Proximity to Middle Road and Interstate 87 entrance enhances accessibility

  • Offers potential for residential, commercial, or mixed-use developments​