In addition to the Saranac River, it is fed by nearby Lake Colby, Fish Creek, and Lilly Pad Pond.

Martin's, with room for 80 guests, became a favorite place for hunters, woodsmen, and socialites to meet and interact; a young Theodore Roosevelt was among the guests,[1] and the members of the famous "Philosopher's Camp" on Follensby Pond (including poets Ralph Waldo Emerson and James Russell Lowell and scientist Louis Agassiz) found their guides at Martins.

[2] The publication of William H. H. Murray's Adventures in the Wilderness; Or Camp-Life in the Adirondacks in 1869, containing a favorable review of Martin's, started a flood of tourists to the area, leading to a rash of hotel building and the development of stage coach lines.

Originally conceived as a year-round health resort, banking on Saranac Lake's reputation for the treatment of tuberculosis, instead it found its best clientele to be healthy summer vacationers.

One notable property is the Knollwood Club, built in 1899–1900 by local architect William L. Coulter for six friends, including Louis Marshall and Daniel Guggenheim.

Einstein enjoyed sailing on the lake, and on occasion needed to be rescued by local residents after capsizing.