Washington, Dec 20 : Fashion magnate Calvin Klein will destroy his New York castle-like mansion, which is worth 30 million dollars, to replace it with a more modern building.

The mogul submitted an application to replace the larger than life castle, called `Dragon's Head', with a more technologically advanced structure.

The Dragon Head castle is a 50,000-square-foot mansion built in 1926, but Klein has been bombarded with complaints ever since he bought the property in 2003 about its larger than life structure.

The creative designer will replace the building with a 17,500 square foot glass and concrete compound and has enrolled celebrity hotelier Ian Schrager to help him redesign it with a more modern flair, according to The New York Post.

"We are delighted by the proposed demolition of our over-scaled and garish neighbour," Contactmusic quoted Ian, as stating in a letter to the Southampton Village Board of Historic Preservation and Architectural Review. (ANI)