The Residences at Oheka Castle represent one of the most singular luxury residential investment opportunities in the United States — 95 condominium units developed on the grounds of Oheka Castle, a 109-year-old, 127-room Gilded Age estate at 135 West Gate Drive, Cold Spring Hills, Huntington, New York. Oheka is the second-largest private residence ever built in the United States and one of Long Island's most celebrated historic landmarks.
The Asset:
The estate sits on 21 acres of manicured grounds in one of Long Island's most coveted ZIP codes — adjacent to the Hamptons corridor, within top-tier Suffolk County school districts, and surrounded by established UHNW residential demand. No other condominium development in the New York metro area can offer buyers residency on the grounds of a designated historic castle estate of this provenance.
Key Financials:
Appraised Land Value: $38,000,000 (Goodman-Marks Associates, File No. 24-877, October 2024)
Oheka Castle "As Is" Estate Value: $92,000,000
Prospective Gross Sellout: $320,000,000 (projected 2027)
95 luxury condominium residences
Average unit size: ~2,368 SF
Appraised $/SF: $1,300
Average unit price at sellout: ~$3,370,000
Town of Huntington zoning approval: March 2023
Market Validation:
The Goodman-Marks appraisal benchmarks comparable Nassau County luxury developments at $869–$1,482/SF adjusted. At $1,300/SF, Oheka is positioned at the upper tier, supported by brand exclusivity and historic estate access. The appraisal incorporates a 5% annual appreciation rate through the 2027 sellout, with additional tailwinds from the Federal Reserve rate cut cycle.
Sponsor:
Spiga Capital Group S.A. — Gabriel Pereira-Langevin, MBA, Managing General Partner. Calgary, AB based with international investor relationships across North America, Europe, and Asia.
Why This Deal:
Historic estate-branded condominiums are a category-of-one in the Northeast. Limited supply of true estate-branded luxury product, proven UHNW buyer demand in the Huntington/North Shore market, zoning already approved, and a third-party institutional appraisal in hand at closing.
This listing is for informational purposes only. All investments involve risk including loss of principal. Reg D 506(c) and Reg S offering — accredited and international investors only. Transactions occur solely on issuer-operated platforms.
