Price Tower, the sole skyscraper designed and realized by architect Frank Lloyd Wright, located in Oklahoma, has been purchased by a Tulsa-based company that intends to restore the building for hotel and residential use.
After a period marked by financial difficulties and uncertainty over its future—initially expected to be sold through bankruptcy proceedings or auction—the landmark has now been acquired by McFarlin Building LLC. This company has a strong track record of renovating historic properties in Oklahoma and Texas. The agreement, reached last year for $1.4 million, had previously stalled due to disagreements with the then-owners, a subsidiary of the Copper Tree Group.
The Frank Lloyd Wright Building Conservancy, dedicated to preserving the architect’s legacy, has closely monitored the fate of the 19-story Price Tower in Bartlesville because of its unique place in Wright’s body of work. The conservancy expressed satisfaction with the recent sale.
Eric Rogers, communications manager for the conservancy, remarked, "We have valued our engagement with the McFarlin team over recent months. Their approach has been encouraging, demonstrating deep respect for Price Tower’s historical importance and a firm commitment to upholding our preservation easement."
Opened in 1956 as office space for the H.C. Price Company, Price Tower is distinguished as Wright’s only skyscraper due to its height and its embodiment of his vision of a vertical street that integrates offices, residences, and retail establishments.
Though Phillips Petroleum, an oil firm long headquartered in Bartlesville, once occupied the building, the tower struggled to retain a major tenant after Phillips merged with Conoco and relocated its headquarters to Houston in 2002.
