The John Paine Mansion was constructed in 1896. At the completion of construction, it was the most expensive home in Troy, NY; with estimated construction cost of $800,000.
John Paine left the home to his son following his death. The John Paine Mansion was eventually bequeathed to Russell Sage College in downtown Troy, NY. Russell Sage College used the home for art & music classes, & as an alumni house from 1940 - 1951. During the 1940s, the Pi Kappa Phi chapter of Rensselaer Polytechnic Institute owned a home in the center of the Russell Sage College campus. In 1951, in order to create a contiguous campus, Russell Sage College struck a deal with the Pi Kappa Phi Fraternity, Alpha Tau Chapter to give up their chapter house on the Russell Sage Campus in exchange for the John Paine Mansion & $10,000.