The mansion is built as a private residence for Mr. Eliot Spalding, the treasurer of the Endicott Johnson Shoe Factory, and his wife, Beatrice, and daughter, Elizabeth Rosalie.

IBM bought the mansion and 430 acres of surrounding land. The Clubhouse was converted into a meeting ground for visiting executives and customers who came to learn how to use the newest data processing machines. The building was given the nickname the ‘IBM Homestead’.

For years during the summer, the grounds around the mansion were filled with tents that housed members of the IBM sales force who had achieved 100% of their sales goals or more. Because so many of IBM’s employees met their sales goals there was no way the Homestead, with only 40 rooms, could house all of them. Tent City - also known as the Hundred Percent Club - was created with over 500 two-man tents, a dozen service tents, running water, electricity and even street signs on the grounds of the mansion to accommodate everyone.

Many notable figures of the '30s and '40s spent a night (or two) here at The Homestead. Before his presidency, Dwight D. Eisenhower was a keynote speaker for IBM and resided in what is now known as the Eisenhower Suite.

The Homestead Developmental Group purchased the vacant property. There was major renovation and expansion of the mansion that retained its Old-World charm and historical accuracy while updating its functionality for the 21st century.