The Redstone Castle is on the auction block – again |

The Redstone Castle is on the auction block – again

Jeremy Heiman

The Redstone Castle will go on the auction block in August, for the second time this year.

The castle will be closed after the Fourth of July, and is scheduled to be auctioned on Aug. 29.

The auction, which is to be simulcast in Aspen, Los Angeles and New York, is expected to draw bids of as much as $3.5 million.

Because the landmark could be sold to a buyer who would close it to the public, local business owners are trying to come up with an alternative plan to keep the turn-of-the-century castle off the auction block.

The mansion was built by coal-mining magnate John C. Osgood in 1902 as a summer home for business entertaining. Osgood hosted some of the wealthiest people in America, including Jay Gould and John D. Rockefeller.

Osgood’s estate has been in turmoil since its present owner, Redstone Investment, sold it to Morgan Rothchild SARL, a Canadian company doing business as Cleveholm Manor, for $2.7 million in 1997.

In 1998 a firm called Castle Consulting was hired by Morgan Rothchild to manage the castle and made an offer to buy the property. But Castle Consulting never made any payments to Rothchild.

Redstone Investment re-claimed the castle in a foreclosure auction in early February. The buyer owed Redstone Investment almost $300,000. About $30,000 in property taxes, was also delinquent at that time.

Castle Consulting withdrew when the property reverted to the control of Redstone Investment at the end of a 90-day redemption period.

Redstone Investment brought in Cyd Lange, who had been general manager of the castle for more than 11 years under Redstone Investment’s ownership, to operate the castle’s bed and breakfast business.

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