“Don’t miss a once-in-a-lifetime opportunity to own one of the most significant architectural gems in American history, Price Tower.”
So reads the listing on commercial real estate auction platform Ten-X.
The building’s impending sale comes suddenly, but not surprisingly, after owners began evicting tenants earlier this month following reported legal and financial troubles.
The auction of the Bartlesville, Okla. property will be handled separately from an accompanying art collection, according to local reports. What exactly that collection contains should be of interest to the Frank Lloyd Wright Building Conservancy, which enforces a preservation easement to protect certain historical items.
Earlier this month, the Conservancy put Price Tower owner, Green Copper Holdings, on notice for selling Conservancy-protected items without the organization’s consent, a violation of a preservation easement. Among the items sold: a one-of-a-kind rolling directory board, architectural copper relief panels, an armchair, and copper tables and stools, all designed by Wright for the Price Tower.
The Conservancy is aware of Price Tower’s upcoming auction and is “fully engaged in ensuring that the easement protections are enforced through the auction process, for both the building and associated collections,” the organization states.
According to local media, owners of the art deco Mayo Hotel in downtown Tulsa, Okla. are interested in purchasing Price Tower. Whoever buys the tower will inherit the responsibilities of the preservation easement. It’s a legally binding agreement that comes with the deed.
“The terms of our easement on Price Tower require that we have the opportunity to inform potential purchasers about the terms of the easement, and to work with them to ensure that it continues to be upheld even after the property changes ownership,” the Conservancy states.
The auction begins Oct. 7. Bidding starts at $600,000.
