Price Tower, the only skyscraper designed by Frank Lloyd Wright, has changed ownership after months of financial and legal struggles. The 19-story landmark in Bartlesville, Oklahoma, was acquired for $1.4 million by McFarlin Building Company, a developer known for restoring historic buildings. Its previous owners, Copper Tree Group, had bought the tower for $10 in 2023, assuming its $600,000 debt, but their failure to fulfill a $10 million renovation pledge led to further financial decline. Mounting debts, controversial sales of Wright-designed furniture, and a planned auction in October 2024 triggered legal disputes, culminating in a court ruling on January 21, 2025, that upheld McFarlin’s purchase. With utilities shut off and winter conditions threatening the structure, the sale was expedited under court supervision to ensure its preservation and financial stability.
Price Tower, Frank Lloyd Wright’s only built skyscraper, has been sold for $1.4 million to McFarlin Building Company after a series of financial missteps and legal disputes involving its previous owners. The 19-story modernist landmark in Bartlesville, Oklahoma, had faced increasing instability under Copper Tree Group, which purchased the building for $10 in March 2023, inheriting $600,000 in debt with promises of a $10 million restoration plan that never materialized.
Owned by Anthem and Cynthia Blanchard, Copper Tree had intended to transform Price Tower into a technology hub with public incentives, including an $88,000 tax credit. However, financial setbacks quickly emerged as their blockchain and cryptocurrency ventures collapsed, derailing their renovation plans. Failed attempts to open two restaurants on-site further strained their finances. In response, the Blanchards began selling Wright-designed furniture and a Bruce Goff-designed gate, triggering legal action from the Frank Lloyd Wright Building Conservancy, which holds a preservation easement on the building.
Debt continued to mount, reaching approximately $2 million by mid-2024. As a result, an auction was scheduled for October, with bidding set to start at $600,000 through the online real estate platform Ten-X. Tenants, including a hotel, an arts organization, and a local magazine, were informed they needed to vacate by August. However, McFarlin Building Company had already agreed to purchase the tower, leading to a legal dispute that ultimately halted the auction.
On January 21, 2025, Washington County Judge Russell Vaclaw ruled in favor of McFarlin, enforcing their contract and stopping the auction. The ruling was expedited due to the building’s utilities being shut off, raising concerns that harsh winter conditions could damage the structure. The $1.4 million sale will proceed under court supervision, ensuring outstanding debts are addressed and that the Wright-designed furnishings remain with the building.
A day after the court ruling, Copper Tree filed for bankruptcy. With McFarlin now in control, Price Tower will be managed by a firm experienced in historic preservation, including the successful restorations of the Mayo Hotel in Tulsa and the Frontier Hotel in Pawhuska. Their involvement offers new hope for Wright’s nearly 70-year-old landmark, ensuring its architectural integrity and future viability.
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Will the FLlW furniture and other things that were sold or consigned to the dealer in Dallas be returned?
Not bad for th price but at least 5 mill.to do reasonable accommodation and codes.good to see an owner on this landmark.