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Margaret Carnegie Miller, the only daughter of industrialist Andrew Carnegie, completed a vast country estate for herself and her husband in 1927, in the quiet Hudson Valley retreat of Millbrook, N.Y. They named it Migdale, a play on her nickname, Midge.

Eschewing more-elaborate early-20th-century architectural styles, she built her opulent home with the austere materials—gray-stone, leaded glass and exposed wood trusses—that reminded her of Skibo castle, the Carnegie family’s beloved Scottish retreat. Her husband, Roswell Miller, added the luxuries of a tropical aviary and an elk preserve on the grounds.

Over time, the estate fell into disrepair. It was rescued in 2000 by another immensely wealthy couple: the billionaire art dealers Guy Wildenstein, 74, and his wife, Kristina Hansson, 65. The couple’s family company, Everest Polo Stables, bought the property for $5.29 million, later spending $4.21

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