On Thursday, the building itself — all 19 stories of cantilevered concrete and patinaed copper — will be available to the highest bidder. That is when the property will go live on the website for Ten-X Commercial, an Irvine, California-based company that bills itself as "the leading platform for trading commercial real estate." The actual auction, when potential buyers will be able to bid on the unique building, will take place Oct.
7-9. In a statement sent to the media Wednesday morning, Cynthia Blanchard, CEO of current owner Copper Tree, said, "After careful consideration, we have decided to list Price Tower on the Ten X Commercial Real Estate Auction platform. "This move allows us to reach a broader audience of potential buyers who can appreciate the property's unique architectural significance," the statement continues.
"Our goal is to ensure Price Tower's legacy is preserved by finding the right steward to continue its care and vision. We appreciate the community’s support during this transition." In a previous email, sent Tuesday afternoon, it was stated that "the auction will include the Price Tower property itself, excluding the art collection.
The art collection will be addressed in Phase 2 of the new ownership transition. "This phased approach aims to ensure a smooth and successful transition, preserving the rich legacy of Price Tower while opening up new avenues for growth and development under new ownership," the email says. Exactly what "the art collection.