Worldofwarcraft.com describes Karazhan as follows:

As mentioned, players visited Karazhan once before at level 70. The home of Medivh the Last Guardian was featured in the first World of Warcraft expansion, known as Burning Crusade. They fought through its twisting halls to defeat Prince Malchezaar. Malchezaar is an Eredar Prince of the Burning Legion, the primary antagonists of the titular Legion expansion. It would seem that Karazhan’s fate is heavily tied to the Legion, as they return time and time again to the empty halls of the spire.

Previously the romp through Karazhan was a mysterious and entertaining one. Right away you visit a ballroom where you would engage with ghostly party goers and enchanted silverware. You’d then pass through an opera featuring a boss that varied between a selection of different performances based on various fairy tales and stage plays. Finally you’d make your journey through the library and even play a giant game of chess against the ghostly memories of the former master, Medivh. If the return to Karazhan is anything like it was in Burning Crusade, you can expect that this trip will be worth every moment you spend there, assuming the demonic hordes don’t get you first.