Seven bidders to compete for Oheka Castle at auction

Seven bidders are registered to compete in Tuesday’s auction of Oheka Castle as Gary Melius’ four-decade run of the landmark estate comes to an end. Concierge Auctions will oversee the sale, which starts at 10 a.m. at The Dominick Hotel in lower Manhattan. The property, development rights, and hospitality operations are being offered to help settle tens of millions of dollars of debt accumulated over a decade. Court documents show Melius owes about $60 million to a secured creditor and roughly $8 million to $10 million plus professional fees to unsecured creditors. The auction is closed to the public, with updates on the winning bid and buyer planned for Thursday.