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Posted: Jan 21, 2025 7:37 PMUpdated: Jan 21, 2025 7:45 PM
Judge Orders Sale of Price Tower for $1.4M
A Washington County judge has ordered the Price Tower to be sold to the McFarlin Group for $1.4 million.
Associate District Judge Russell Vaclaw made the ruling during an emergency hearing on Tuesday morning.
The case began in September 2024 when Tulsa-based McFarlin Building, LLC, which has restored the Mayo Hotel and Aloft Hotel in Tulsa and the Frontier Hotel in Pawhuska, claimed that Cynthia Blanchard — as president of Copper Tree and secretary of Green Copper Holdings, the deed owners of the Price Tower — signed a $1.4 million contract on May 23 to sell the Tower to McFarlin.
The lawsuit claimed that the ownership group of the Price Tower breached the terms of agreement by removing property and artifacts, and for putting the skyscraper up for a pending auction. McFarlin also claims the Price Tower is in “peril” because there is allegedly no insurance on the building, no adequate fire escapes and no active fire suppression system. Additionally utilities were turned off.
Vaclaw ordered that the $1.4 million will be held by the court in a fund until all debts, claims, liabilities and debts are settled.
The McFarlin Group has agreed to turn the utilities back on at the Price Tower once they own the building to preserve the property from further damage. The cost to do so may be deducted from the final sale price.
Vaclaw also ordered that any money received from Blanchard selling Price Tower artifacts must either be paid back or deducted from the purchase agreement.
There will be another court date set in February.
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