The iconic Price Tower in Bartlesville, Okla. —Frank Lloyd Wright’s only realized skyscraper—has been sold to McFarlin Building for $1.4 million following a court-supervised bankruptcy process.
The sale was finalized on Monday, May 5.
McFarlin’s track record in adaptive reuse projects, including the transformation of Tulsa’s Mayo Hotel and the Triangle Building in Pawhuska, Okla., bodes well for the tower’s preservation and continued use.
“There is significant work ahead, but the infusion of new financial resources, together with a sustainable business plan, gives us great optimism for the tower’s future,” the Frank Lloyd Wright Building Conservancy said in a statement.
The conservancy maintains a preservation easement protecting the building from demolition or inappropriate alterations, even if the property changes hands.
The organization and the building’s previous owner, Copper Tree Inc., were in a dispute over the handling of certain Wright-designed items housed in the tower. The owner sold off several furnishings without proper authorization before declaring bankruptcy and evicting tenants.
The building was up for auction; however, no competing qualified bids were received, allowing McFarlin to acquire the property as the sole bidder.
“We’ve appreciated getting to know the McFarlin team over the last several months, and our conversations have been very positive. We are reassured by their respect for Price Tower’s historic significance and their commitment to honoring our preservation easement. Their creative approach to the reuse of buildings, and the knowledge they have of the regional market, provide a strong foundation for revitalizing this treasured landmark. We are grateful that they are taking on this challenge, and we stand ready to support them with expertise and knowledge as they work to stabilize and preserve the building,” the conservancy stated.
What remains of Wright’s collection will continue being housed in the tower.
“We are separately continuing to explore avenues for reuniting the missing items with the collection, but we cannot comment further on that at this time,” the conservancy stated.
Completed in 1956, Price Tower was originally commissioned by the H.C. Price Company as a corporate headquarters. Its distinctive copper-clad design and organic architectural philosophy made it a standout example of Wright’s vision for vertical living. Over the decades, the building changed hands multiple times, eventually becoming home to the Price Tower Arts Center, which operated a museum, boutique hotel, and restaurant within the structure.
