Price Tower, the  Frank Lloyd Wright-designed skyscraper in downtown Bartlesville, officially has a new owner after months of financial struggles and court proceedings.

McFarlin Building, LLC, the Tulsa-based group known for restoring the historic Mayo Hotel, won the auction for the property with a $1.4 million bid, News On 6 reports. A Washington County judge has signed off on the sale, bringing new hope for the future of one of Oklahoma’s most unique architectural landmarks.

The tower, which opened in 1956 and stands as Wright’s only realized skyscraper, has been closed since August 2024. Its previous owner, Cynthia Blanchard, filed for bankruptcy earlier this year, citing financial difficulties in maintaining the building. The situation escalated when Blanchard sold off items from inside the tower, drawing concern from preservationists and leading to legal action involving the Frank Lloyd Wright Building Conservancy.

As part of the judge’s ruling, the $1.4 million from the sale will be placed in a court-managed account until all debts and liabilities are resolved. Any profits made from the sale of tower artifacts must either be returned to McFarlin or deducted from the total held in escrow.

The bankruptcy court had originally set a minimum bid of more than $1.5 million and scheduled the auction for May 6. With the judge’s latest decision, McFarlin will acquire the building for its original offer of $1.4 million.

Another court date is expected next month to sort out any remaining legal and financial details related to the sale.

photo courtesy of Visit Bartlesville