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Developers buy Oheka Castle for $72 million at auction

Developers purchased Long Island's historic Oheka Castle for $72 million at a private foreclosure auction following a Chapter 11 bankruptcy filing. Ronald Browning and Paul Alflen of Gold Coast Property and Estate Management won the bidding with a $71.8 million offer, which ultimately reached $72 million plus a buyer premium. The massive 127-room property serves as a hotel and wedding venue, and the transaction leaves scheduled weddings intact through 2028. The final auction price amounted to nearly half of the estate's appraised value after spending more than a decade in foreclosure.

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  • ✓ Oheka Castle sold for $72 million at a private foreclosure auction.
  • ✓ Gold Coast Property and Estate Management partners Ronald Browning and Paul Alflen won the bidding with a $71.8 million bid that reached $72 million.
  • ✓ The property is located in Huntington Town on Long Island.
  • ✓ The sale followed a Chapter 11 bankruptcy filing and more than a decade in foreclosure.
🛡️ Source Corroboration: 16 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Gold Coast Property and Estate Management partners Ronald Browning and Paul Alflen won the foreclosure auction to acquire Oheka Castle.

Live updates

  1. Developers Buy Oheka Castle for $72 Million

    Developers purchased Long Island's historic Oheka Castle for $72 million at a private foreclosure auction following a Chapter 11 bankruptcy filing. Ronald Browning and Paul Alflen of Gold Coast Property and Estate Management won the bidding with a $71.8 million offer, which ultimately reached $72 million plus a buyer premium. The massive 127-room property serves as a hotel and wedding venue, and the transaction leaves scheduled weddings intact through 2028. The final auction price amounted to nearly half of the estate's appraised value after spending more than a decade in foreclosure.

    Why it matters

    Oheka Castle is the nation's second-largest private residence and gained widespread pop-culture fame after appearing in Taylor Swift's Blank Space music video. The estate has faced prolonged financial distress, culminating in bankruptcy proceedings that forced the property onto the auction block. Local developers stepped in to acquire the landmark, shifting ownership of the iconic Huntington Town tourist and event destination.

    What is confirmed

    • Oheka Castle sold for $72 million at a private foreclosure auction.
    • Gold Coast Property and Estate Management partners Ronald Browning and Paul Alflen won the bidding with a $71.8 million bid that reached $72 million.
    • The property is located in Huntington Town on Long Island.
    • The sale followed a Chapter 11 bankruptcy filing and more than a decade in foreclosure.
    • The estate features 127 rooms, operates as a hotel and wedding venue, and has weddings booked until 2028.
    • The final sale price was nearly half of the estate's appraised value.

    What to watch next

    • Finalization of the bankruptcy court sale approval
    • Announcements from the new owners regarding future renovations or operations of the hotel and wedding venue
    Sources used for this update (19)
    1. economictimes.indiatimes.com — Business News Live, Share Market News - Read Latest Finance News, IPO ...
    2. www.newsday.com — Newsday | Long Island's & NYC's News Source - Newsday
    3. nypost.com — New York Post – Breaking News, Top Headlines, Photos & Videos
    4. timesofindia.indiatimes.com — Saudi Arabia Turns To Iran Amid Houthi Strikes, Dealing Trump A Major Gulf Blow? - Times of India Videos
    5. Newsday — Developers buy Oheka Castle for $72 million at auction
    6. People.com — Castle from Taylor Swift’s ‘Blank Space’ Finds a Buyer for $72 Million at Auction
    7. Long Island Business News — Long Island firm wins bid for Oheka Castle at foreclosure auction
    8. ABC7 New York — Long Island's Oheka Castle sold for $72 million at private auction
    9. New York Post — Bankrupt LI wedding venue sells for $72M at private auction — nearly half of its appraised value
    10. NBC New York — Bankruptcy leads to $72 million auction for famed Long Island mansion
    11. cashwalklabs.io — GM will switch to Nasdaq from the NYSE on Nov. 17
    12. nypost.com — Oheka Castle sells for $72M at auction - New York Post
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