Former owner has castle, again
The Redstone Castle has returned to the ownership of Redstone Investment, Inc.
Redstone Investment reclaimed the castle in a foreclosure auction in early February, but a 75-day redemption period, during which lienholders or other buyers could come forward with offers, kept it out of the company’s control until last Monday. No adequate offers were received during the redemption period.
Spokesmen for Redstone Investment said Friday the company still hopes to sell the property.
Pitkin County’s Deputy Public Trustee Carol Foote said the public trustee’s deed conveyed the property, also known as Cleveholm Manor, back to Redstone Investment at the end of the redemption period. Morgan Rothchild SARL, a Canadian company doing business as Cleveholm Manor, Inc., was unable complete payment for the property after purchasing it from Redstone Investment for a reported $3 million.
Dave Younger, attorney for Redstone Investment, said the buyer owes Redstone Investment $290,470.08 plus an unknown amount of interest and other expenses incurred by Redstone Investment.
The castle will remain open as usual, said Ken Johnson, a Redstone Investment representative who lives on the property. Johnson said Castle Consulting, the management company hired by Morgan Rothchild, withdrew as soon as the property reverted to the control of Redstone Investment. But service should remain unaffected, he said.
Redstone Investment has brought in former manager Cyd Lange, general manager of the castle for more than 11 years under Redstone Investment’s ownership. Johnson said Lange is “back in there, trying to glue it back together.”
Lange said she and her staff are trying to make the transition as smooth as possible. “We don’t want it to affect the guests,” she said. “We want them to enjoy themselves and enjoy their time in Redstone.”
She said the historic castle is still operating as a bed and breakfast, but the fine dining previously offered was discontinued under Castle Consulting’s management and is not available right now.
Johnson said Redstone Investment intends to sell the property, though it’s not listed with a realtor yet. Several people showed interest in buying the property during the redemption period, and Johnson said a number are still interested.
“There are a lot of tire-kickers around,” he said, but genuine buyers are scarce. Redstone Investment will sell it to the first person who’s willing to pay cash, Johnson said.
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After falling through a trapdoor in his Telluride home a couple of weeks ago, Chris Busbee wasn’t sure if he’d be able to keep his streak going. He had run in every New York City Marathon since 1998 and was going to run it virtually this year in Aspen before his spill put all that in jeopardy.