Castles buyer completes 10 percent down payment |

Castles buyer completes 10 percent down payment

The man who laid claim to the Redstone Castle with a $4 million auction bid is $200,000 closer to buying it.Internal Revenue Service spokesman John Harrison said Friday that part-time Aspen resident Ralli Dimitrius met that day’s deadline for paying the additional $200,000 for the castle.Dimitrius and other bidders each had to pay an initial $200,000 just for the right to participate in the March 19 auction, which took place in Glenwood Springs. As the high bidder, Dimitrius then had to put down more money to bring his down payment up to 10 percent of the purchase price.Harrison said Dimitrius now has about 40 days to complete the purchase.”Every indication is that he’s moving towards that without any problem,” Harrison said. “And the government will no longer be a party to this forfeiture action, and we’ll move on to other things.”The IRS took possession of the castle in 2003 as part of an investigation into a $56 million investment scam that authorities say left more than 1,000 victims. Proceeds from the castle sale will go toward a restitution fund for victims.Harrison said the IRS also received the followup payment it required from Walt Stanaszek, an Oklahoma resident who made the top bid of $480,000 on a Redstone Boulevard home that the IRS also auctioned off as part of its efforts to reimburse scam victims.Coal baron John C. Osgood built the 15-bedroom castle at the start of the 20th century for about $2.5 million.Dimitrius, a Hermosa Beach, Calif., resident, has had a home in Aspen since 1970. He says he plans to resume running the castle as a bed and breakfast. Redstone residents had been concerned that the buyer might close the castle to the public, depriving the community of its chief tourist attraction.Contact Dennis Webb: 945-8515, ext.

Support Local Journalism

Support Local Journalism

Readers around Glenwood Springs and Garfield County make the Post Independent’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User