The Republican journal. [volume] (Belfast, Me.) 1829-current, 1916-02-03
A BIC REAL ESTATE DEAL.
Grindle's Point, Islesboro, Sold to Otto H.
Kahn of New York for Summer Home.

The estate at Islesboro, until recently owned
by James F. Grindie, and locally known as
"Grindle's Point" and which has for years
been considered by many as the gem of that
portion of Penobscot bay in the vicinity of
Dark harbor, recently passed to Mr. Otto II.
Kahn of New York of the firm of Kuhn, Loeb
& Co and who, it is understood, has acquired
IT for residential purposes. This is believed
TO be the largest single transaction in real es-
tate in this county for many years SO far as
the financial consideration is concerned the
price reaching vel! into the tens of thousands
This tract, comprising about sixty acres, has
an unusual hi tory as regards ownership.
Since its sale by Gen Henry Knox in 1899, a
period Of one hundred and seventeen years,
the title has been In but four men. The first
pure haser was John Gilkey iu 1899, from
whom it descended to his son Philip in 1919,
who in turn sold it Francis Grinoel, the father
of the present occupant, in 1881. By the terms
of his will it passed in 1857 to his son James
F. Grindel, who has occupied it from that time
to the present.
In 1849 portion of the extreme seutherly
point was selected by the United States as
site for what is known as Grindel Point Light
house, which guards the western entrance to
Gilkey's Harbor. The property lies between
Gikey's Harbor on the east and the westerly
arm of Penohscot Bay on the west, and COM
mands view not only Of the entire range of
the hills from Camden to Northport, bat also
the whole western portion of the summer
colony at Dark harbor The premises appear
to have been settled as early as 177S by Will
liam McGlathry, "squatter," as he in that
year conveyed his supposed holdings to John
Gilkey.
The following from the foreword of the alb.
stract of title may be of interest as it applies
to all property in the greater part of Waldo
county: THE land was from grant in 1920
by King James I, known as the greater char.
ter of New England. In 1929 it became the
property of Gen. Samuel Waldo, and in 1892
fell to Lucy, wife of Gen. Henry Knox, and
granddaughter of Gen. Waldo"
debted to Hiram P. Farrow, c. E., who nego-
tiated the sale. Mr.. Kahn, who is said to be
multl-millionaire, has a wife and several
children and they came to Islesboro last sum-
, mer for the first time, occupying the cottage
of the late DIR. Derby at Dark Harbor. They
DFouku uL Will lueu n EeLlDue OF servants and q
large number OF horses, and spent money law
ishly. 1t is said that he will build splendid
summer home on his new property. with pri-
vate tennis courts and golf links, swimming
pools, ETC.. but Mr.. David Smith of Dark har-
Dor had letter last Saturday from Mr.. Kahn
in which he said he had absolutely no plans at
present. but bought the land because he was
pl eased with it, and may not come to Isesboro
this summer
Otto Kann is a prominent figure in the finan-
cial world as a member of big banking
house; also in musical circles, as he is on the
di rectorate of the Royal Opera, Metropolitan
Opera CO., Boston Grand Opera Co., and chi
cago Grand Opera.s He was born and educate ed
in Germany and served in the German army,
learned banking in Germany and was for
sometime in the London branch of German
bank, coming to this country about Is years
ago. He has extensive holdings in railroad
and steamship properties. The Kahns gave
one of the largest dances at the Islesboro Inn
last summer which was ever given at that ex-
elusive hostelry.