
The 23‑acre Long Island estate, once a Gilded Age playground, was forced into a court‑supervised auction after its owner, developer Gary Melius, defaulted on a $63.5 million debt, leaving the hotel and restaurant with less than $60 in cash.
The auction, held on July 5 by Concierge Auctions and the Modlin Group, attracted seven bidders, including hospitality operators and high‑net‑worth individuals, but the winning bid of $72 million, below the $137 million appraisal, was secured by Gold Coast partners Ronald Browning and Paul Alflen.
Huntington officials already approved a zoning plan for 95 luxury condominiums on five acres of the property, a project that could fetch over $1.8 million per unit, according to the 2025 appraisal that bundled development rights into the estate’s value.
Oheka Castle has hosted Hollywood weddings, a music video by Taylor Swift, and served as a film set for Citizen Kane’s Xanadu; existing event bookings must be honored through March 2028.
The new owners face a choice: preserve the historic estate, expand the hospitality business, or launch the condo project, with a projected completion deadline set for 2028.