Keep it up and I'll get my pocket lawyer after you.....

Steve has an update today, although nothing much has changed:

Ownership of First National Center, future, a mystery | NewsOK.com (http://newsok.com/ownership-of-first-national-center-future-a-mystery/article/3725934)

Wait, so what judge is deciding this case? :p

What a mess..
Why would any company want to move in there knowing all the things we know about the building and its unstable management.
I hope then plan on using a local broker IF they get the space up to par. Otherwise they won't even be able to pay their electric bill!

Let's just hope they don't pull a Skirvin and sell the whole place off at auction piece by piece.

http://newsok.com/skirvin-fixtures-await-auction/article/2465017




The beleaguered Skirvin Plaza Hotel will be stripped of its elaborate furnishing and antiques in a May 24-25 absolute auction, its owner confirmed Monday.

...


The owner simply wants to liquidate and get out, officials said, adding that on Monday, yet another purchase contract was unraveling, one of many attempted over the last four years.

...

The liquidation includes six handmade Czechoslovakian leaded chandeliers, as well as numerous antique furnishings from the hotel's 250 rooms, restaurants and two grand ballrooms.

Also included will be some office equipment, two baby grand pianos and an award-winning 1901 grand piano, auctioneer Louis Dakil said.


Don't freak out - the story is from 1994.

Foregive me if this was already mentioned and I missed it, but I hear the cousin of Yashuoafaris actually behind the new ownership.

Milbank CEO seeks probation in embezzlement case


OKLAHOMA CITY – One of Milbank Real Estate CEO Aaron Yashouafar’s attorneys has asked a judge in Las Vegas to sentence the First National Center owner to probation in an embezzlement case so that he can help shore up new financing for the downtown landmark.

Milbank CEO seeks probation in embezzlement case | The Journal Record (http://journalrecord.com/2012/11/09/milbank-ceo-seeks-probation-in-embezzlement-case-law/)

Brilliant Pete.....MMMMMMuad'Dib!

Owner of First National Center in Oklahoma City seeks to avoid jail time

A judge in Las Vegas has been presented with character references that seek to portray Aaron Yashouafar, owner of First National Center in Oklahoma City, as an honest, ethical businessman as he pleads guilty to embezzlement.


Read more: Owner of First National Center in Oklahoma City seeks to avoid jail time | NewsOK.com (http://newsok.com/owner-of-first-national-center-in-oklahoma-city-seeks-to-avoid-jail-time/article/3728056#ixzz2C8j7Gb2Y)

Honest and ethical businessman.....................as he's plead guilty to embezzlement.

Nah.. this just doesn't go together.

The only people offering letters of support are on his payroll.

Almost reads as though, regarding FNB refi, they want him to be seen as too big to fail.
I vote nay.

Honest and ethical businessman.....................as he's plead guilty to embezzlement.

Nah.. this just doesn't go together.
A guilty plea doesn't always mean an admission of guilt.....
but in this case.....

A guilty plea doesn't always mean an admission of guilt.....
but in this case.....

Yes, but guilty plea plus convictions and a history of sleazy behavior...... If it walks like a duck...

How can you plead guilty without admitting guilt?

Pleading no contest is accepting the punishment without admission of guilt but that's not what he did here.

An Alford plea is a guilty plea, without admitting guilt. My memory is a bit fuzzy, but I believe it's an acknowledgement of the state's evidence is likely enough for a conviction. I don't practice criminal law, so I have no experience with these.

Yes, but I never saw anything about an Alford plea or any other special stipulation.

At it's very essence (with a few exceptions), pleading guilty IS an admission of guilt. And in exchange for such an open admission, sentence is usually reduced.

Yeah I don't think he entered a no contest or an Alford plea. Of course I've frequently pled people and then turned around and argued the same type of thing at sentencing. Generally doesn't go well.

I was just answering your question. No Alford plea was entered. Pleading guilty is almost always an admission of guilt, as you said, for a reduced sentence.

Understood!


Will be interesting to see what the judge decides here.

Interesting indeed. I think a quick resolution, whatever it winds up being, will be best. Continued uncertainty will likely be worse than a known "bad" outcome.

Just walked past FNC and noticed an artist has taken up a very sizeable portion of the former department store pad as an "interim studio." I think this is a great temporary use idea to fill in space until a permanent tennant moves in.

Erin Latham (http://www.erinelatham.com)

Oops, wrong thread.

Just saw a blog reporting that sentencing for Aaaron Yashouafar will take place tomorrow, Jan. 16th in Las Vegas.

Just had a crazy, random notion....

Looking at the , who are building the Holiday Inn Express in Bricktown, I noticed something interesting.

They recently purchased the Cotton Exchange Hotel in downtown New Orleans (which foreclosed) and are currently renovating it.

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/259231_577496038937920_1998178931_o.jpg

Further info here: Cotton Exchange Hotel sold in foreclosure to Dallas-based company for $17.8 million | NOLA.com (]facebook page of Newcrest Image[/url)

What a grand looking old building.


And Newcrest already has experience with this kind of thing as they have just recently finished renovating the Fisk Building in downtown Amarillo.

http://kfda.images.worldnow.com/images/22249119_BG1.jpg

https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-frc1/579148_550523641659358_19775716_n.jpg

This (now) hotel has a facebook page here: [url]https://www.facebook.com/cyamarillo


Now... since they have developed all this skill with renovating historic old downtown buildings into modern hotels, and they are already in OKC at the moment...

Perhaps someone could give them a tour of First National and let them see the wonderful structure just sitting there. Maybe, at some point in the future, they might be interested in tackling another historic downtown renovation?

Just had a crazy, random notion....

Looking at the facebook page of Newcrest Image, who are building the Holiday Inn Express in Bricktown, I noticed something interesting.

They recently purchased the Cotton Exchange Hotel in downtown New Orleans (which foreclosed) and are currently renovating it.

That's funny you know.. because I stumbled on the same page, noticed the exact same building and thought the same thing. Great minds think alike huh? I wasn't going to post a photo though to take it off topic but I'm glad you did. I had the brief daydream of wishing our city had done things much differently and how much better downtown would look and feel.

That's funny you know.. because I stumbled on the same page, noticed the exact same building and thought the same thing. Great minds think alike huh? I wasn't going to post a photo though to take it off topic but I'm glad you did. I had the brief daydream of wishing our city had done things much differently and how much better downtown would look and feel.

Ha! That's very strange. Or... maybe we're onto something here... :)

It's a crazy thought, really. Not likely these guys will come along to rescue our old lady. But hey, you never know. Just seemed like a notion worth mentioning.

Sorry to be so stupid when it comes to this sort of thing, but can someone explain to me why people think it would cost $100 million or more to redo FNC? I realize there are issues with the elevators and such, but what else would need to be done? Is it a complete gut job on everything minus the Banking Hall?

I've been all over that building. If you saw it, you would understand that estimate. Even the Great Banking Hall will need some work. I'm not sure how the price tag is itemized, but I know that each elevator costs over $100,000 to fix, and there are several elevators at least going into the basement/vault that haven't been used in over 20 years. Of course those wouldn't necessarily be needed, but if they're renovating the whole building, that would be part of the cost.

Bring everything to current standards, either mandated or normally accepted, is a massive task. And, if re-purposed, moving walls, etc. would be extensive. Renovation is usually worth it, but can be expensive and require long term patience for the economics to work. It isn't for someone looking to make it a cash cow.

Sorry to be so stupid when it comes to this sort of thing, but can someone explain to me why people think it would cost $100 million or more to redo FNC? I realize there are issues with the elevators and such, but what else would need to be done? Is it a complete gut job on everything minus the Banking Hall?

The 909 Walnut Building in Kansas City is very similar in many ways to FNC (1930's former bank) and it cost $64 million to convert to 159 apartments and 110,000 sq feet of commercial space. That price also included a new 323 space parking garage with 12,000 sq foot rooftop garden.

http://www.909walnut.com/

One of the biggest issues for that building is that in the tower the bathrooms are only accessible through landings BETWEEN THE FLOORS. It is an ADA nightmare. They will have to be relocated. Twenty plus floors' worth.

That shouldn't be that big a deal.


Without knowing the specifics of this particular instance, accessibility guidelines do allow some flexibility in regards to an existing building where it is technically infeasible to meet the requirements. In this case, it would likely be acceptable to provide an acessibile, single-user restroom on each floor, and allow the intermediate floor restrooms to serve the rest of the building's occupants.

Devon Energy Center Aerials (July 26 2013) - a set on Flickr (http://www.flickr.com/photos/williamhider/sets/72157634839526279/)

http://farm8.staticflickr.com/7360/9390587861_298de94b32_h.jpg

http://farm6.staticflickr.com/5335/9393361668_2157c5f1b8_h.jpg

One of the biggest issues for that building is that in the tower the bathrooms are only accessible through landings BETWEEN THE FLOORS. It is an ADA nightmare. They will have to be relocated. Twenty plus floors' worth.

Even if the ADA issue could be addressed, it is a tenant convenience issue that many would prefer not to have to deal with. Tenants and their employees have an expectation of certain things, and bathrooms on each floor are among them.

Yashouafar in jail for 30 days. (Is that all?)

First National Center owner in Las Vegas jail cell | News OK (http://newsok.com/first-national-center-owner-in-las-vegas-jail-cell/article/3872626)


David Neale, an attorney who has represented Yashouafar in several bankruptcy cases relating to his real estate interests, asked for leniency in a letter to the Clark County District Court in Las Vegas last year. In the letter, Neale wrote that Yashouafar needed to remain free to help refinance the First National Center. The 1930s-era downtown landmark is in need of repairs and much its 33-story office tower is vacant.

RIGHT!!!! Like that's going to make a difference. LOL

One of the biggest issues for that building is that in the tower the bathrooms are only accessible through landings BETWEEN THE FLOORS. It is an ADA nightmare. They will have to be relocated. Twenty plus floors' worth.

The Colcord had one bathroom between floors that alternated men/women. Those spaces are now air conditiong, but I think that was before Coury redeveloped it? I want to say it was around 115 added bathrooms. Unless FNC was a hotel or housing, it wouldn't even need that many.

But in order to put a bathroom ON the floor, that means you have to take away from the current square footage on the floors. Those plates are so small in the tower, having the bathrooms could be a pretty big issue. Bathrooms don't take up much space (only need like 2 stalls for each bathroom for the size of the plate), but there just isn't much room to go around....and of course you have to take that space away from tenants. Not to mention the fact that you really need it in the same spot on each floor to maximize the efficiency in the plumbing runs. Once you've got tenants in there, it's SOOO much more difficult. What is a closet on one floor could be in the middle of a conference room on the next.

In the letter, Neale wrote that Yashouafar needed to remain free to help refinance the First National Center. The 1930s-era downtown landmark is in need of repairs and much its 33-story office tower is vacant.

He's owned this complex since 2006 and has done almost nothing, so this is a pretty absurd claim.

FNC needs to be a boutique hotel.

This redevelopment is happening right now across the street from the Magnolia Hotel which was an office building into hotel redevelopment.
Denver Post - Renovation of old Colorado National Bank building 30 percent complete (http://www.denverpost.com/ci_22313281/renovation-old-colorado-national-bank-building-30-percent)
RenewDenver.org - Magnolia Hotel (http://www.renewdenver.org/redevelopment/dura-redevelopment-projects/downtown-denver/magnolia-hotel.html)

Here is an update on the rehab of the old office building into a hotel happening here in Denver.
Denver Business Journal - Inside the new Renaissance Hotel in the Colorado National Bank building (http://www.bizjournals.com/denver/news/2013/09/19/colorado-national-bank-to-hotel.html)

Banking Hall panoramic by Josh DeLozier

http://static.wixstatic.com/media/da441b_268a309b581851c70a01f58686072bc9.jpg

Source: Oklahoma City Panoramics by Josh DeLozier | PANORAMICS (http://www.joshdelozier.com/?_escaped_fragment_=panoramics/c21rz)

Believe it or not, when I was a high school teacher (2002-2007) and was responsible for finding a location for our Junior/Senior banquet, I called around and managed to reserve the banking hall! It was a great experience.

Believe it or not, when I was a high school teacher (2002-2007) and was responsible for finding a location for our Junior/Senior banquet, I called around and managed to reserve the banking hall! It was a great experience.

Do you know who to contact? Have been wanting to look into that.

Do you know who to contact? Have been wanting to look into that.


The Great Banking Hall at First National Center [More]
Meeting / Banquet Facilities
120 N. Robinson Ave., Suite 300W
Oklahoma City, OK 73102-7482
Phone: (405) 235-2500
Great Banking Hall at First National Center (http://www.fnc-okc.com/greatbankinghall/)

This was years ago... but I wanna say the first people I called was Oklahoma Today Magazine who officed out of there at the time (they might still, I dunno). I asked them who to contact and they gave me building management information. Kept calling around and finally got it worked out. I moved to Tampa 4 years ago and have been out of the OKC loop, but we're looking at moving back soon. That's why I'm back here on the forum. All that to say, back when I was in OKC, Opening Night, the downtown New Year's celebration, used the banking hall as a venue. Contacting someone with Opening Night may get you the info you need, too.

I'm really hoping the opportunity for my family to move back works out as I miss OKC! Love the beaches and Disney, but OKC is home. :)

On their website, how ingenious! (don't I feel dumb)


Thank you!

On their website, how ingenious! (don't I feel dumb)


Thank you!

That too! ;) lol

On the Oklahoma's coverage of the MAPS anniversary coverage, there was a district breakdown and this quote was about the future of the CBD: The long-languishing First National Center may finally also be targeted for redevelopment with potential adaptive re-use. Do we know anything else beyond this?

Here is the link to the story: Oklahoma City: MAPS districts | News OK (http://newsok.com/take-a-look-okc-districts/article/3910490)

On the Oklahoma's coverage of the MAPS anniversary coverage, there was a district breakdown and this quote was about the future of the CBD: The long-languishing First National Center may finally also be targeted for redevelopment with potential adaptive re-use. Do we know anything else beyond this?

Here is the link to the story: Oklahoma City: MAPS districts | News OK (http://newsok.com/take-a-look-okc-districts/article/3910490)

Oh pleeeeease let something happen here.

With the Century Center ready to be brought back to life and something certain to happen at the Dowell Center, that leaves FNC as the last big unrealized opportunity downtown.


What's the word, Steve???

I'm hopeful. But to say anymore might cause a jinx. So say no more.


https://www.youtube.com/watch?v=PdrX4We69IA

It's got to be a case of a rising tide lifting all ships... That things are booming all around FNC and they are missing a great opportunity by not doing anything but keeping the lights on.

I suppose now that they've lost Devon as a big tenant, they will almost be forced to do something because their income is dwindling lower and lower. Either sell or redevelop.


Hope it's a hotel conversion where some of the mid-century sections give way to structured parking.

Steve, can you give us a hint as to the adaptive reuse? Housing? Hotel?

https://www.youtube.com/watch?v=PdrX4We69IA

Fair enough.

Steve, can you give us a hint as to the adaptive reuse? Housing? Hotel?

5191

This might be one of Steve's surprise announcements. I have long been an advocate in the redevelopment of First National Center. It is one of OKCs greatest historic treasures.

This might be one of Steve's surprise announcements. I have long been an advocate in the redevelopment of First National Center. It is one of OKCs greatest historic treasures.

That was what I was going to ask him next. Steve, can we expect something this month? Is this the project you are most excited about? Do you plead the Shadid?

I recently spoke with someone who was involved in the bankruptcy trial of First National. He too is hearing that something is about to happen with the property.

If you participate in Steve's chats you know he is always asked what he is most excited about. This last week he said he is very excited about a possible opportunity but afraid it won't happen. Willing to bet this is what he was referring to.