The iconic 127-room French chateau featured in Taylor Swift’s Blank Space music video has officially sold for $72 million. Following a highly anticipated bankruptcy auction on October 27, 2026, the 112,895-square-foot Long Island estate—known as Oheka Castle—was acquired by Gold Coast Property & Estate Management LLC, with the new buyers pledging to keep the historic property intact.
The Hollywood legacy and Blank Space connection
Built in 1919 by financier Otto Hermann Kahn for $11 million–approximately $216 million today–the Gilded Age mansion remains the second-largest private residence ever constructed in America.
Built on the highest point of Long Island, the views are unrivaled, and the estate not only served as a direct inspiration for F. Scott Fitzgerald’s The Great Gatsby but also famously provided the backdrop for Taylor Swift’s 2014 hit.
The music video highlighted the estate’s grand interior staircase—inspired by France’s Chateau de Fontainebleau—and its meticulously manicured Olmsted Brothers formal gardens.
The $72 million transaction comes just weeks after Travis Kelce publicly praised “Blank Space” as his all-time favorite Taylor Swift song, pushing the 23-acre Cold Spring Harbor estate back into the national spotlight.
The property’s prestige is further cemented by its appearances in cinematic classics like Citizen Kane and hit series like Gossip Girl, Succession, The Americans, The Diplomat, and Royal Pains.
Inside the $72 million auction
Former owner Gary Melius, who saved the abandoned estate in 1984 with a record-breaking $40 million restoration (the largest in American History), filed for Chapter 11 bankruptcy in 2025 to delay a foreclosure sale.
During a 90-minute private auction in Manhattan, principals Ronald Browning and Paul Alflen outbid six other entities to secure the property. The $72 million winning bid will reportedly clear Melius’s estimated $70 million in combined secured and unsecured debts.
What’s next for the “Versailles of New York”
While local residents expressed concerns about the castle being demolished or altered, the new owners quickly put those fears to rest.
Co-owner Paul Alflen, a Long Island native, confirmed plans to retain the estate’s charm, stating, “This is a magical piece…we are going to keep the castle as is.”
The on-site restaurant, 34-room luxury hotel, and robust catering operations will continue to run normally, and all currently booked weddings and events will be fully honored through March 31, 2028.
The luxury condominium expansion
A significant factor driving the property’s massive valuation is an existing Town of Huntington-approved development project.
According to a press release from Concierge Auctions, the new owners possess the rights to construct 95 luxury condominium residences on 5.13 acres at the southeast corner of the property.
Developers note that the new buildings will sit below the tree line to preserve the visual integrity of the historic 23-acre grounds, carrying the legacy of Long Island’s most famous Gold Coast address into its next century.
Looks like it is going to be forever!
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