Long Island’s 127-room Oheka Castle heads to auction with $63.5m debt

Oheka Castle, the largest residence on Long Island, will go up for auction on 27 October. The 112,895 sq. ft. French Renaissance-style château, designed in 1919, is a real-life Gatsby estate. The 127-room mansion carries more than $63.5 million in debt. The next owner will also inherit land that the town has already approved for housing.Prospective buyers must pony up $750,000 just to have a chance at the property, with the deposit going towards the winning bidder’s purchase price. The auction, organised by Concierge Auctions, follows owner Gary Melius’s Chapter 11 bankruptcy filing after the estate struggled to meet its financial obligations, according to a report by The Post.A house built for big partiesIn 1919, Delano and Aldrich, one of the Gold Coast’s premier mansion-building firms, designed the château. It was built for Otto Hermann Kahn, a financier and patron of the arts.