Long Island Developers Acquire Oheka Castle for $72 Million Auction Bid

WHO:

Newsday - Ronald Browning and Paul Alflen, through Gold Coast Property & Estate Management LLC, were the winning bidders for Oheka Castle; their attorney was Brian Gardner.

Newsday - Alflen said his background was in “hospitality and development” and that he had visited the castle “hundreds of times.” He referred questions about the purchase to Gardner.

Newsday - Outgoing co-owner Gary Melius said he was relieved by the sale and would continue living at Oheka and managing its operations. He said, “Nothing — no change. It will just get better.”

Newsday - Concierge Auctions CEO Chad Roffers said seven qualified bidders participated; he said three to five had been a realistic target.

Newsday - Gayle Snyder, who leads the Cold Spring Hills Civic Association, welcomed Melius’s continued involvement and said neighbors remained concerned about housing development.

Long Island Business News - Browning is a principal of Rye Brook-based Carben Construction; Alflen is a Merrick resident. Gold Coast Property & Estate Management is based in Carle Place.

Long Island Business News - Taconic Capital Advisors sold the property after acquiring Oheka’s debt; U.S. Bank National Association initiated the original foreclosure action.

WHAT:

Newsday - Gold Coast Property & Estate Management won the auction with a reported $72 million bid, outbidding six other entities. Long Island Business News reported the bid as $71.8 million.

Newsday - Gardner said the buyers intend to preserve the castle, maintain current operations and pursue development on parts of the property that would not interfere with the castle or its grounds, consistent with prior approvals.

Newsday - The property’s approved development rights allow up to 95 condominium units. Neighbors would prefer no housing, but the rights already exist.

Long Island Business News - The bidders must provide about 16 percent of the sale price the following week, according to sources.

Newsday - Melius owed about $60 million to a secured creditor and $8 million to $10 million to unsecured creditors and for professional fees. Melius said the sale was sufficient to clear his debts.

Long Island Business News - Taconic bought the Oheka debt for about $28 million; it later reached about $61 million with interest and penalties, the amount used as the starting bid.

Long Island Business News - Taconic also bought the adjacent 13.3-acre country-club parcel for $14 million; that parcel was not included in the Oheka auction.

WHERE:

Newsday - The auction took place at The Dominick Hotel on Spring Street in Manhattan and was conducted by Concierge Auctions.

Newsday - Oheka Castle is in Huntington, next to Cold Spring Country Club, north of Jericho Turnpike.

Long Island Business News - The auction covered Oheka’s 22-acre property; the approved condominium project applies to a five-acre portion.

WHEN:

Newsday - The auction began at 10 a.m. and lasted about 90 minutes. The winning bid was expected to be confirmed at a federal bankruptcy court hearing on Thursday.

Long Island Business News - Taconic purchased the debt in June 2023; the first foreclosure action began in June 2016. A previous auction in October 2022 drew no bidders, and a May 2023 auction resulted in Taconic acquiring the debt.

Long Island Business News - A Suffolk County Supreme Court summary judgment for the lender was issued in February 2023.

Long Island Business News - Melius’s entity filed for Chapter 11 bankruptcy protection to stop a foreclosure sale scheduled for August 2025.

WHY:

Newsday - Oheka’s owner, Kahn Property Owner LLC, filed for Chapter 11 bankruptcy protection to delay foreclosure.

Long Island Business News - Melius defaulted on a $28 million commercial mortgage-backed securities loan; court filings said payments stopped in fall 2015.

Newsday - The castle’s appraised value was $137 million, including condominium development rights.

HOW:

Newsday - Seven entities registered for the private auction; the sale was not open to the public.

Long Island Business News - Taconic acquired the debt and took the former lender’s position in the foreclosure proceedings after the debt auction.

(UPDATED October 28, 2026 19:08 UTC)

Gold Coast Property & Estate Management, led by winning bidders Ronald Browning and Paul Alflen, bought Huntington’s Oheka Castle at auction for a reported $72 million, outbidding six other entities. Their attorney, Brian Gardner, said they plan to preserve the castle, maintain its operations and pursue development on parts of the property that won’t interfere with the grounds, including a project with approved rights for up to 95 condominium units. Outgoing co-owner Gary Melius said the sale would clear his debts and that he would remain at Oheka to manage operations, while neighbors welcomed his continued involvement but remain concerned about housing development.