Chinese billionaire Jack Ma has acquired a prime real estate property in New York.

The co-founder of online marketing company Alibaba purchased a $23 million estate in Adirondacks, The Wall Street Journal reported. Three years ago, the property was listed with an asking price of $28 million, noted the site.

The newly-acquired, 28,100-acre Adirondracks estate reportedly changed hands in May with Ma buying it through New Brandon LLC. The listing group that handled the listing was LandVest.

On LandVest.com, the sale of the estate was already announced as a record deal for their group, with efforts from brokers Vincent McClelland (LandVest - Keene Valley) and Gary Bahlkow of LandVest's Timberland Division.

The website proudly described the estate as a property that "epitomizes one of the classic Adirondack preserves established in the early 1900s by successful industrialists and incorporates everything necessary for a top-notch wilderness experience."

The 50-year-old e-commerce mogul wanted to make the estate as a personal relaxing getaway or a private retreat to manage his stress.

In 2014, he admitted the "pain" of being the richest man in China, per Forbes' 2014 ranking.

"People say, 'Well Jack, rich people is good.' Yeah it is good, but not the richest man in China. It's a great pain because when you're (the) richest person in the world, everybody (is) surrounding you for money. Today when I walk on the street, people look at you in a different-I want people to see this is entrepreneur, this is a guy who is having fun of himself, and I want to be myself," Ma told CNBC.

However, more than his personal reason, Ma wants to conserve the beauty of the area, as seen on the images available on the listing firm's site.

Jim Wilkinson, a spokesman for the inspiring self-made billionaire, said that Ma will create a non-profit entity to oversee the estate.

"Protecting the environment in China will always be Jack's first and foremost priority, and he will continue his strong efforts here. This international land purchase reflects Jack's belief that we all inhabit the same planet and we all breathe the same air, so we are dependent on each other for our collective future," Wilkinson told the Journal.

The Journal further described the recreational paradise Ma just bought as an expansive estate offering a relaxing retreat just by its natural state. It is comprised of thick unspoiled greenery of trees in its forests and various kinds of crystal-clear water source such as streams, river, ponds and lakes. There is also a maple-syrup production in the area.

Found in the sprawling gated property known as Brandon Park are two homes. There is also a horse barn in the estate and other forms of temporary shelter during the day.