Oheka Castle has just crowned some new owners.

The storied Long Island property sold at auction Tuesday for $72 million, plus buyer premium, to its new owners: Gold Coast Property & Estate Management partners Ronald Browning and Paul Alflen. The sale saw seven participants total take their shot at owning America’s second-largest residence.

A 2025 appraisal, done as part of Oheka’s Chapter 11 bankruptcy proceedings, valued the property at a much higher $137 million — meaning they’re buying it all for nearly 50% off.

The winning bid was first reported by Newsday, with the price confirmed by The Post. Long Island Business News revealed the buyers.

Browning and Alflen will receive a storied French-style site that for the last 100 years has been a touchstone for celebrities, politicians, wedding attendees and prom-goers.

Securing town government approval for 95 luxury condos on the property is part of longtime owner Gary Melius’ legacy, with that authorization now going to the winning bidders. Those development rights were included in the 2025 valuation.

Prospective buyers included developers wanting in on the building opportunity, as well as hospitality site operators seeking the landmark’s active hotel and catering operations — and at least one ultra–high-net-worth property collector looking to snag a rare trophy asset.

Taconic Capital, which held the defaulted mortgage on the property and declined The Post’s request for comment, had the inside track with a court-authorized $61 million chit to cover the amount it was owned on the loan. The bidding proceeded from there.

That investment firm, started by former Goldman Sachs partners Frank Brosens and Ken Brody, had a strong interest in emerging as the new owners after purchasing an adjacent 13.3-acre development site in December from the country club next door, property records show. 

Concierge Auctions, the luxury property auction arm for Sotheby’s International Realty, hosted the sale in conjunction with Adam Modlin’s luxury brokerage the Modlin Group at Manhattan’s Dominick Hotel. 

The auction brings down the curtain for Melius, a developer and political heavyweight, who filed for bankruptcy last summer to try and keep his creditors at bay. Melius, 81, did not return requests for comment but previously told The Post, “Forty years here, $50 million in, and now nothing.”

His bankruptcy filing displayed a dire financial picture for Oheka, with the hotel, restaurant and event space having less than $60 in its bank account, no cash on hand and carrying more than $63.5 million in debt. 

Oheka saw much better days in earlier years.

Banker Otto Kahn, a billionaire in today’s dollars, built the massive estate just as Roaring ’20s were kicking in and bacchanals became a hallmark of the property.

Oheka was born out of antisemitism. Kahn, despite all of his wealth, was barred from joining area country clubs and private golf courses because he was Jewish, a common issue in the early 20th century. 

By developing his own massive estate and an 18-hole golf course — along with a working farm, a racetrack and an airstrip — he, his family and colleagues had their own private enclave.

Its lavish décor and grand grounds attracted members of high society and celebrities, including Charlie Chaplain, Douglas Fairbanks, Enrico Caruso and the Marx Brothers. Writer F. Scott Fitzgerald was said to have drawn inspiration from the estate for “The Great Gatsby,” which chronicled the era’s abandon.

The castle has kept its celebrity cred into the current day. Taylor Swift spent more than a week there employing the estate’s grand rooms and formal gardens for her “Blank Space” music video.

Jennifer Lopez chose the property for numerous high-profile photography shoots — and Jay-Z and Beyoncé, who have their own opulent place in nearby East Hampton — have used the castle for private events and shoots.

High-profile celebrities who were married in the castle include Kevin Jonas in December of 2009, with brothers Joe and Nick as best men, and amid a massive blizzard that left 2 feet of snow outside and guests with unplanned overnight stays. Former politician Anthony Weiner married Huma Abedin there in a wedding officiated by former President Bill Clinton. 

Under the court-ordered auction, the new owners must honor wedding and event bookings until at least March 2028.