A few months ago, the owner of Bartlesville’s iconic Price Tower tried to sell some of the furnishings and decorations designed by renowned architect Frank Lloyd Wright for his only existing skyscraper.
On Thursday, the building itself – all 19 floors of cantilevered concrete and patinated copper – will be offered for sale to the highest bidder.
The property will then go live on the website of Ten-X Commercial, an Irvine, California-based company that describes itself as “the leading platform for commercial real estate trading.”
The actual auction, where potential buyers can bid on the unique building, will take place from October 7 to 9.
In a statement sent to the media on Wednesday morning, Cynthia Blanchard, CEO of current owner Copper Tree, said: “After careful consideration, we have decided to list Price Tower on the Ten X Commercial Real Estate auction platform.
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“This move allows us to reach a broader audience of potential buyers who appreciate the property’s unique architectural significance,” the statement continued. “Our goal is to ensure that the Price Tower’s legacy is preserved by finding the right steward to continue its care and vision. We appreciate the community’s support during this transition.”
An earlier email on Tuesday afternoon stated that “the auction will include the Price Tower property itself, but not the art collection. The art collection will be addressed in Phase 2 of the new ownership transition.”
“This phased approach is intended to ensure a smooth and successful transition, preserving Price Tower’s rich heritage while opening new avenues for growth and development under new ownership,” the email said.
No details were given as to what the “art collection” would include, nor was a timeline given for when “Phase 2” would take place.
In an interview with the Tulsa World in July, Blanchard said, “I’ve been approached by potential buyers,” but added, “If that ever happens, I would want (Price Tower) to go to someone who cares about it as much as I do.”
“But at the same time,” Blanchard said, “there’s a lot of potential here for other ideas for using the tower, and I have to at least be open to hearing those ideas.”
One of those potential buyers appears to have been the Snyder family, who bought and renovated Tulsa’s famous Mayo Hotel. They formed a limited liability company called Price Tower Hotel and Residences in June, according to Oklahoma Secretary of State records.
Macy Snyder-Amatucci, vice president of Brickhugger LLC, which is listed as the registered agent for Price Tower Hotel and Residences LLC, did not respond to repeated requests for comment on whether the family is still pursuing the purchase of Price Tower.
Price Tower has been mired in controversy for most of the year since it was revealed in April that Blanchard had attempted to sell a number of items from Price Tower through Dallas-based firm 20c Design, which specializes in mid-century modern furniture and design.
This project caught the attention of the Frank Lloyd Wright Building Conservancy, which has a conservation trust for the Price Tower and its contents that prohibits the sale of items without the Conservancy’s permission.
In an interview with the Tulsa World in July, Blanchard said the decision to sell the items was a response to “a financial challenge that peaked in late April. I can’t go into detail about it, but I had to make a difficult decision.”
Coincidentally, according to an April 26 article published in the Bartlesville Examiner-Enterprise, Blanchard’s husband, Anthem Blanchard, stated in court documents that his cybersecurity and cryptocurrency companies, HeraSoft and Anthem Vault, were “financially insolvent and unable to meet any financial demands, including significant unpaid wages, to former employees.”
Earlier this month, the Conservation Authority filed declarations under the Uniform Commercial Code against the owners of Price Tower to “advise prospective purchasers that affected items from the collection may not be sold without the approval of the Conservation Authority.”
A day after filing the returns, Blanchard announced that Price Tower would be closed to the public, that businesses located there would be vacated from the building by the end of the month, that most of the tower’s employees would be laid off, and that all reservations at the boutique hotel The Inn at Price Tower would be canceled effective immediately.
In a statement released Wednesday, officials with the preservation agency said they were “aware of the owners’ announcement that Price Tower will be put up for auction. There have been successful auctions of Wright-designed buildings in the past, and we hope to find a buyer with the resources and vision necessary to protect this remarkable landmark well into the future.”
“The terms of our easement for Price Tower require that we have the opportunity to inform prospective buyers of the terms of the easement and work with them to ensure that it is maintained even after a change in ownership of the property,” the statement said. “We are fully committed to ensuring that easement protections are enforced through the auction process for both the building and the collections associated with it.”
The Ten-X website lists 13 other properties that will be auctioned on the same days as Price Tower, including two in Oklahoma: Sand Sage Assisted Living Centers in Oklahoma City and Mustang.
Opening bids for the 13 properties already listed for the Oct. 7-9 auction range from $1 for an office complex in Pittsburgh to $3 million for a Crowne Plaza hotel in Columbus, Ohio.
The opening bid for Price Tower will not be announced until Thursday, but estimates range from $1.4 million to $2 million. Washington County records show the property for Price Tower was last valued at more than $4 million.
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