Developers buy Oheka Castle for $72 million at auction

Key Points:

• Huntington's Oheka Castle was sold at auction for $72 million to Gold Coast Property & Estate Management LLC, led by developers Ronald Browning and Paul Alflen, who plan to conserve the mansion and develop portions of the property without impacting the castle itself.
• The new owners intend to proceed with development rights for up to 95 condominium units on the property, consistent with prior approvals, while maintaining current operations and events at the estate.
• The sale, part of a Chapter 11 bankruptcy proceeding for Oheka owner Kahn Property Owner LLC, is expected to clear debts owed by co-owner Gary Melius, who will continue managing operations and living at the castle.
• Neighbors expressed cautious optimism about the sale, relieved that Melius remains involved and that the castle will continue hosting community events, though concerns persist about the planned condominium development.
• Oheka Castle, a historic 127-room Gold Coast estate built between 1914 and 1919, has served various roles over the decades and is known as a luxury event venue and a cultural landmark featured in the film "Citizen Kane."