In 1926, Carl G. Fisher bought most of the East End of Long Island () for only $2.5 million. He planned to turn Montauk into the "Miami Beach of the North", a "Tudor village by the sea". His projects included blasting a hole through the freshwater Lake Montauk to access Block Island Sound to replace the shallow Fort Pond Bay as the hamlet's port; establishing the Montauk Yacht Club and the Montauk Downs Golf Course; and building Montauk Manor, a luxury resort hotel; the Montauk Tennis Auditorium, which became a movie theater (and is now the Montauk Playhouse); and the six-story Carl Fisher Office Building (later the Montauk Improvement Building and now The Tower at Montauk, a residential condominium). This last building remains East Hampton's tallest occupied building, as zoning ordinances restricted heights of later buildings. The 30 or so buildings Fisher put up between 1926 and 1932 were designed in the Tudor Revival style. Fisher had successfully developed Miami Beach before beginning his Montauk project, but although he continued to pour his money into the development, to the extent of $12 million in total, he eventually lost his fortune due to the Wall Street Crash of 1929, and most of his enterprises were shut down. Other hotels that opened at the time of Fisher's project include Gurney's Inn, built by W. J. and Maude Gurney, who had managed a Fisher hotel in Miami Beach.