Redstone Castle in Colorado, a $12 million piece of local history

The iconic Tudor-style mansion known as the Redstone Castle was built by coal magnate John Cleveland Osgood in 1902 and became a beloved hunting destination for America’s most powerful dignitaries of the day, including Teddy Roosevelt, J.P. Morgan and the Rockefellers.

Georgie Mihaila
8 Min Read

While on the West Coast, homes in the $20 million range compete in cutting-edge amenities and intricate home design, heading to the Rocky Mountains introduces us to a whole new type of ultra-luxury: the type that comes with massive acreage and tons of history.

That’s the case with Colorado’s iconic Redstone Castle — a 153-acre property known as one of the state’s most storied monuments — which was listed for sale back in 2020 with a $19.75 million price tag and sold in April 2022 for $11,975,000.

Set in the town that inspired its name, Redstone Castle (also known as the Ruby of the Rockies, Cleveholm, or Osgood Castle), the massive estate is 48 miles away from Aspen.

The property includes a carriage house, garages, and horse arena, plus early water rights and the right to build 20,000 square feet of additional cabins or cottages in private, wooded areas on the estate’s grounds. 

Redstone Castle in Colorado, seen from a distance and surrounded by trees
Redstone Castle in Colorado, also known as Cleveholm and Osgood Castle. Image credit: Coldwell Banker Mason Morse

“Redstone Castle is one of the most regal and oldest mansions in the Colorado Rockies,” said Chris Souki with Coldwell Banker Mason Morse, who represented the property when it came to market.

“It’s a true piece of history. The irreplaceability of the castle, combined with the acreage, pristine setting and value created through the mindful stewardship of the current owners, make this property an incredible opportunity.” 

Built in 1902, the historic property was brought to modern standards by its former owners, identified by The Denver Post as April and Steven Carver.

With visions of returning the castle to its original glory, they took meticulous care to preserve the 42-room, 24,000 square-foot home, bringing it into the modern era with all-new bathrooms, updated kitchen and infrastructure.

renovated kitchen inside the redstone castle in colorado.
Renovated kitchen inside the Redstone Castle in Colorado. Image credit: Coldwell Banker Mason Morse

The renovated interiors today reflect the same air of European opulence from a century ago: leather embossed walls, Tiffany-designed chandeliers, aluminum leaf ceilings and frieze, linen-lined walls by Italian artists, and 14 fireplaces with imported marble and tile. 

inside the redstone castle in colorado.
Inside the Redstone Castle in Colorado. Image credit: Coldwell Banker Mason Morse
inside the redstone castle in colorado.
Inside the Redstone Castle in Colorado. Image credit: Coldwell Banker Mason Morse
inside the redstone castle in colorado.
Opulent interiors of the Redstone Castle in Colorado. Image credit: Coldwell Banker Mason Morse

The history of Redstone Castle, Colorado

Perched on the edge of the Crystal River and surrounded by dramatic red cliffs, cascading waterfalls and 100-year-old pine trees, Redstone Castle (also known as Cleveholm or Osgood Castle) has maintained a towering presence in Colorado history — and is listed on the National Register of Historic Places.

The iconic Tudor-style mansion was built by coal magnate John Cleveland Osgood in 1902 and became a beloved hunting and gaming destination for America’s most powerful dignitaries of the day, including Teddy Roosevelt, J.P. Morgan and the Rockefellers.

Redstone Castle in Colorado.
Redstone Castle in Colorado. Image credit: Coldwell Banker Mason Morse

Osgood, at the time one of the country’s richest men, based the castle’s design on the ancestral home of his wife, Alma, and fitted its lush interiors with antique European furniture and work by Gustav Stickley and Louis Comfort Tiffany.

When John Cleveland Osgood’s prosperity ended, the coal magnate moved away from the area, only to return to Redstone Castle in the late 1920s, to spend his remaining years there.

After Osgood’s passing, his wife tried to convert the house into a resort, but the Great Depression made that economically unviable; however, later owners were able to run it as a hotel into the 1990s.

By 2003, the property ended up in the possession of the state, and the IRS auctioned it off online in March 2005.

Locals feared that a developer might buy the property and demolish the existing structure, but the winning bidder, Ralli Dimitrius, restored it and reopened it for tours, bringing much-needed tourist traffic to Redstone.

Redstone Castle courtyard
Courtyard of the Redstone Castle in Colorado. Image credit: Coldwell Banker Mason Morse

More palatial properties

Redstone Castle on the big screen: the house in ‘The Prestige’

Now, if you’ve never even been to Colorado, but the house still seems oddly familiar, there’s a good reason for that.

Redstone Castle has had quite a memorable big screen presence, as the home was used in Christopher Nolan’s 2006 movie, The Prestige.

The $40-million movie about turn-of-the-century rival magicians starred a stellar cast that included the likes of Hugh Jackman, Christian Bale, Michael Caine, Scarlett Johansson, and David Bowie.

According to the Post Independent, the Colorado scenes were filmed mostly at the Redstone Castle and along the road toward Marble, bringing together a 110-people crew to the area to shoot the scenes on location.

gorgeous mountain view from Redstone Castle in colorado
View from the Redstone Castle in Colorado. Image credit: Coldwell Banker Mason Morse

The Colorado castle’s future as a wellness center

In April 2022, Redstone Castle finally found its buyer — after nearly two years on the market.

Stephane De Baets of RC Ownership LLC bought the property for Elevated Returns and announced plans to open a wellness resort at the 25,127-square-foot property, according to The Aspen Times.

The $11.9 million sale ushers in a new chapter for the 120-year-old property, which will live on as a hideaway wellness retreat.

According to Redstone Castle’s new owner, an agreement has been reached with Thailand-based RAKxa Wellness, and the hospitality company will be opening an upscale spa retreat on the property known as the Ruby of the Rockies.

*Note: This article was originally published in September 2020, when the Colorado castle was first listed for sale. It was later updated to reflect the recent sale and to include information on the new owner’s plans for the property.

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With a decade-long career as a digital content creator, Georgie started out as a real estate journalist for Multi-Housing News & CPExecutive. She later transitioned into digital marketing, working with leading real estate websites like PropertyShark, RENTCafé and Point2Homes. After a brief but impactful stint in the start-up world, where she led the marketing divisions of fintech company NestReady and media publisher Goalcast, Georgie returned to her first passion, real estate, and founded