Key facts
- Oheka Castle, a 127-room estate on Long Island, has been sold for $72 million.
- The estate was built in 1919 by financier Otto Hermann Kahn and is said to have inspired "The Great Gatsby."
- The buyer is Gold Coast Property & Estate Management LLC.
- The sale includes a pre-approved plan for a four-story condo building.
- The property was restored by Gary Melius for $40 million after being abandoned and damaged.
Oheka Castle, a historic 127-room estate on Long Island that is said to have inspired F. Scott Fitzgerald's "The Great Gatsby," has been sold for $72 million. The property, originally built in 1919 by financier Otto Hermann Kahn, was purchased by Gold Coast Property & Estate Management LLC. The sale, which was conducted via auction, included a pre-approved plan to construct a four-story condo building on the grounds. After Kahn's death in 1934, the estate changed hands multiple times and was abandoned in the 1980s, suffering significant damage. Land developer Gary Melius later purchased the property and invested $40 million in its restoration before defaulting on a loan and declaring bankruptcy in July 2025. Today, Oheka Castle serves as a venue for weddings, a restaurant, and a hotel, and has been featured in various media productions.