Although an initial predecessor to Liebeneck Castle probably already came into being around 1590, the building that lies above the little village of Osterspai is a complete new construction dating from the 1870s. The lords of Liebenstein probably moved their seat from the Liebenstein Castle to the new, representative manor house, named “Grauborn”, right after its construction at the end of the 16th century. However, in 1651 the dominion of the lords of Liebenstein, which also included Camp-Bornhofen in addition to Osterspai, came into the possession of the barons of Waldenburg. It was probably they who made a Baroque hunting lodge out of Liebeneck in the second half of the 17th century. However, the estate was no longer adequate to the living standards of the later owner, the Baron of the Empire Franz Georg Ernst von Preuschen von und zu Liebenstein - he had the estate demolished completely and replaced it. This is how the new construction designed by the architect Joseph Balthasar Fuchs in Neo-Renaissance style emerged on the Baroque foundations in the period from 1873 to 1875.