Hit with code violations and cut of notices this week. First National Center faces utility cutoffs, code violations | News OK (http://newsok.com/first-national-center-faces-utility-cutoffs-code-violations/article/5441417)

Hit with code violations and cut of notices this week. First National Center faces utility cutoffs, code violations | News OK (http://newsok.com/first-national-center-faces-utility-cutoffs-code-violations/article/5441417)

I am surprised that has not been an issue earlier, the way the management has operated.

It's been really bad in that building for quite some time.

Over a year ago I was told management cut back maintenance to far below even basic standards.

The only good part of all of this is the current owners -- as messed up as they are -- absolutely have to sell. I'm surprised they've been able to hang in there this long, but they are to the point of absolutely having to do something with this property.

Contacted the Golden Dragon buffet today inside FNC to see where they are. They couldn't tell me anything other than they will operate from a day-to-day basis. FNC is on borrowed time; once the utilities (water &/or electric) go--it's all over with but the shouting...

Contacted the Golden Dragon buffet today inside FNC to see where they are. They couldn't tell me anything other than they will operate from a day-to-day basis. FNC is on borrowed time; once the utilities (water &/or electric) go--it's all over with but the shouting...
I worry about Ken and his wife. They're good people. I work for a department who had been staunchly insisting that we had a lease until June of next year so we had NO plans in place for a serious move. Now, we have to vacate by Wednesday. Heads ought to roll, but won't in Oklahoma.

KFOR's update along with video interviews of some tenants.

?People had to bring their own toilet paper,? Tenants say historic building is on verge of breakdown | KFOR.com (http://kfor.com/2015/08/24/people-had-to-bring-their-own-toilet-paper-tenants-say-historic-building-is-on-verge-of-breakdown/)

And Steve's update with interview with tenants and the building manger.

http://www.oklahoman.com/article/5442165&headline=State%20of%20Oklahoma%20verifies%20agenci es%20plan%20to%20make%20immediate%20emergency%20mo ves%20from%20First%20National%20Center

Exclusive video of the FNC spokesperson earlier today discussing the rumors of utilities shutoff...

https://www.youtube.com/watch?v=CXl1GkWWGmA&t=0m2s

As first reported by Brianna and Steve there is a new bidder here which can complicate the issues.

Court documents hint rival bidder seeks ownership of downtown OKC's First National Center | News OK (http://newsok.com/court-documents-hint-rival-bidder-seeks-ownership-of-downtown-okcs-first-national-center/article/5443166)

I do not believe there is a new bidder. I believe the owners are lying. Again.

Seriously doubt some one would bid millions on this property without having had extensive discussions with the City, as public incentives are going to be a bigger part of this than the purchase price.

But, I also think this thing will close to Goodman in about a month and then everything will start to move forward.

Seriously doubt some one would bid millions on this property without having had extensive discussions with the City, as public incentives are going to be a bigger part of this than the purchase price.

But, I also think this thing will close to Goodman in about a month and then everything will start to move forward.

I hope you are right. Closing to Goodman --- at all --- will be a big relief.

Seriously doubt some one would bid millions on this property without having had extensive discussions with the City, as public incentives are going to be a bigger part of this than the purchase price.

Oddly enough, our biggest development projects have done the exact opposite of what one would expect with regards to extensive discussion with the City about incentives. If they did Stage Center would still be standing.

Oddly enough, our biggest development projects have done the exact opposite of what one would expect with regards to extensive discussion with the City about incentives. If they did Stage Center would still be standing.

That's one example.

I could list dozens where advance discussions with the City were instrumental in bringing projects to full fruition, including the largest by far, the Devon Energy Center and the second largest, Leadership Square.

JTF views Devon Tower as an abject failure, Pete.

But JTF views everything in OKC as abject failure.

But JTF views everything in OKC as abject failure.

JTF would prefer to implode the entire city as it stands today (and airport) and build a new urbanist utopia from scratch. How much TIF would that take? I just don't know if we could Pei for it. (I kid, I kid).

oh we're pei-ing for it all right...

JTF just recognizes the truth, even if he's dogmatic and impolite about it. OKC doesn't have enough people or enough of a tax base to make 600 sq miles of city be "nice". If we want to have a nicer city, we need to start building with more density so the stuff we build can maintain itself.

JTF just recognizes the truth, even if he's dogmatic and impolite about it. OKC doesn't have enough people or enough of a tax base to make 600 sq miles of city be "nice". If we want to have a nicer city, we need to start building with more density so the stuff we build can maintain itself.

This is completely obvious, but for some reason people on this forum dog on JTF as if he is taking crazy pills. I don't understand why we as OKC cannot admit that the city was/is over its head; we must start correcting the problem somewhere (downtown).

Everyone on this forum has an immeasurable amount of pride for our city, but that doesn't mean we must blindly support every aspect of it. Sometimes even the things you care about need criticism, and that includes our city's past decisions.

I dont think there is any shortage of criticism on this site. What gets maddening is an unending tirade of negativityabout everything that is presented. Its like nails on a blackboard.

Steve's latest on this.

http://www.oklahoman.com/article/5443694&headline=Market%20has%20not%20been%20kind%20to%20F irst%20National%20Center


Don't look for a rescue from City Hall. They say they're just waiting and watching. When asked why they can't launch an aggressive rescue effort like they did with the Skirvin Hotel, they explain First National Center has yet to hit the same lows. To act without evidence of dilapidation or nuisance could be declared tortious interference.

Steve's latest on this.

http://www.oklahoman.com/article/5443694&headline=Market%20has%20not%20been%20kind%20to%20F irst%20National%20Center

That links to a paywall. Do you have a link directly to the article?

Judging by Steve's tone on his twitter he seems pretty worried about the future of it.

That links to a paywall. Do you have a link directly to the article?

Judging by Steve's tone on his twitter he seems pretty worried about the future of it.

There isn't a link available yet unless you're a subscriber and here is more from Steve which piles confusion upon confusion.

Dallas developer says he has contract for Oklahoma City's First National Center | News OK (http://newsok.com/dallas-developer-says-he-has-contract-for-oklahoma-citys-first-national-center/article/5443674)


A Dallas real estate developer claims he now has the contract to buy First National Center and will be attending a court hearing Tuesday where his effort to buy the property will be weighed against that of California developer Stephen Goodman.

There isn't a link available yet unless you're a subscriber and here is more from Steve which piles confusion upon confusion.

Dallas developer says he has contract for Oklahoma City's First National Center | News OK (http://newsok.com/dallas-developer-says-he-has-contract-for-oklahoma-citys-first-national-center/article/5443674)

Do you think Mike Sarimsakci might be better fit to take on the task? It sounds like he has a respectable history down in Dallas. Some concern was raised a while back that Stephen Goodman might be in over his head. The worst case scenario will be for another developer to purchase the property and just sit on it like the last several owners have done. One thing that might help prevent that is the fact there may not be much money coming in now that most tenants are vacating. Still, I hope this gets done and done right.

Sarimsakci seems to have a good track record in Dallas but anyone would seem to be an improvement on what has happened to this point.


Sarimsakci is already heavily invested in the Dallas real estate market. He has renovated a long-empty 18-story modernist tower in downtown Dallas as a home for tech startup companies with the aid of historical preservation tax credits.

He's also overseeing the $90-million redevelopment of the 104-year old Butler Brothers building in downtown Dallas that will include a Marriott hotel.


I also want to give a kudo to Steve. In spite of inferences by some here that he and Brianna were just parroting things about the FNB building that others were saying, he has been in the forefront in bringing information about what is happening.

That links to a paywall. Do you have a link directly to the article?

Judging by Steve's tone on his twitter he seems pretty worried about the future of it.

See this tweet (https://twitter.com/Mecoy/status/638686448468692992) for a pass through link.

Incidentally, I recommend following Don Mecoy if you are a regular twitter user, he routinely tweets out paywall bypassing links to articles.

You may recall that many months ago I reported that Alterra (Sarimsakci's group) was the leader for the purchase.

And they had extensive discussions with the City at that time.

So, this isn't a case of a new buyer coming in, it's one of the original bidders who has already worked extensively with the sellers and City.


Personally, I'd feel better with the property in Alterra's hands rather than Goodman's.

Just learned that as of this morning, the air conditioning has been cutoff at First National Center.

Already hot in the building at 9:30AM. Few remaining tenants are really in a bad way.


The drama continues!

Personally, I'd feel better with the property in Alterra's hands rather than Goodman's.

That's the way I feel as well. I like what Goodman has promised but feel better about Alterra's track record.

Just learned that as of this morning, the air conditioning has been cutoff at First National Center.

Already hot in the building at 9:30AM. Few remaining tenants are really in a bad way.


The drama continues!

Just went to FNC to check it out. was on street level and the hallways weren't bad. Went inside Golden Dragon and boom. definitely can tell inside there.

I guess it's fair to say that sh*t is finally hitting the fan? (a fan that's now only blowing hot air)

How long until the fan's power is cut off?

Also, what's going on with Cafe 7 in all of this? I'm assuming they don't have their own HVAC system.

I don't think Cafe & has their own HVAC system.

The entire FNC complex receives chilled air for a/c (and steam for heat) from Veolia Energy, who has now cut them off due to past-due bills.

Wow....I wonder how many buildings Veolia supplies these days. I would imagine that FNC was probably a big portion of their business considering how dated that technology is (and has been). Not that it's good for them to run any not get anything for it, but I do wonder how detrimental that is to their own business.

You may recall that many months ago I reported that Alterra (Sarimsakci's group) was the leader for the purchase.

And they had extensive discussions with the City at that time.

So, this isn't a case of a new buyer coming in, it's one of the original bidders who has already worked extensively with the sellers and City.


Personally, I'd feel better with the property in Alterra's hands rather than Goodman's.

This makes sense. I didn't realize the track record in Dallas for Alterra.

Something just needs to happen - and soon. This grand building needs TLC and it will be a beauty.

But JTF views everything in OKC as abject failure.

Peace out Rover.

I'm just going to leave this here and bow out of this topic.

Transactions of Decline ? Strong Towns (http://www.strongtowns.org/journal/2015/8/31/transactions-of-decline?utm_content=buffer5e40f&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer)

Wow....I wonder how many buildings Veolia supplies these days. I would imagine that FNC was probably a big portion of their business considering how dated that technology is (and has been). Not that it's good for them to run any not get anything for it, but I do wonder how detrimental that is to their own business.

The network is in 19 buildings, and chilled water/steam, is only a portion of their business.

Just went to FNC to check it out. was on street level and the hallways weren't bad. Went inside Golden Dragon and boom. definitely can tell inside there.

Left the Golden Dragon around 1 p.m. today. Meet my brothers there once every month for lunch (every first Tuesday of the month); we felt that it would be our last meeting there. Now the air-conditioning has been turn off?

Man, what a blow.

At the hearing this afternoon, the judge didn't take any specific action but called for a Thursday AM hearing where he may end up putting the property in the hands of a receiver.

The Nemans want assurances they'll be repaid for the big utility bills before they pay them, and if I was the judge I'd tell them to pound sand. Why should they be reimbursed for merely paying bills during their ownership?

They may have that written into the Goodman sales contract but I happen to know they cut services way, way back a year ago long before the buildings went under contract.


It's really hard to imagine a group of more sleazy, greedy, dishonest, corrupt and irresponsible owners.

Much additional coverage today by Steve and Brianna.

OKC Central blog player (http://bcove.me/0qif72vf)

OKC Central blog player (http://bcove.me/j7nghxwj)

NewsOK Videos | First National Center in limbo (http://www.newsok.com/first-national-center-in-limbo/multimedia/video/4457984283001)


Judge considers placing First National Center in receivership | News OK (http://newsok.com/judge-first-national-center-situation-an-emergency/article/5443902)


Calling the situation an emergency, a federal judge said Tuesday that he will consider placing the distressed First National Center in the control of a receiver.
"In the court's view, it's gone from an urgent situation to an emergency situation,and possibly one of public safety," Friot said.

The network is in 19 buildings, and chilled water/steam, is only a portion of their business.

Thanks for this - never knew how it was structured!

Peace out Rover.

I'm just going to leave this here and bow out of this topic.

Transactions of Decline ? Strong Towns (http://www.strongtowns.org/journal/2015/8/31/transactions-of-decline?utm_content=buffer5e40f&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer)


Oh please, fixing the economic model of cities is easy, there's just no adults in the room when it comes to putting in the fix. Cities are being killed by the lack of local sales taxes collected on internet sales.

The network is in 19 buildings, and chilled water/steam, is only a portion of their business.

is there some kind of diagram out there? just curious. I did peek at their website but didn't see anything like that.

Wow....I wonder how many buildings Veolia supplies these days. I would imagine that FNC was probably a big portion of their business considering how dated that technology is (and has been). Not that it's good for them to run any not get anything for it, but I do wonder how detrimental that is to their own business.

BTW, district chilled water and/or hot water/steam is an old, but not "dated" technology. These systems are used all over the world very successfully. It can be the highest efficiency system to use. Chilled water systems in buildings is the most efficient system for moving energy when designed properly. Sometimes the older systems are still the highest quality.

I'm currently at Cafe 7 and they have brought in portable AC units. They also still don't know if they will be getting to stay much longer.

I'm currently at Cafe 7 and they have brought in portable AC units. They also still don't know if they will be getting to stay much longer.

What are they cooking with and how are they keeping their coolers/freezers operating?

What are they cooking with and how are they keeping their coolers/freezers operating?

Their electricity and gas are still on, it's just the chilled water and steam that has been cut off.

I still think Cafe 7 is a decent fit for the Aloft restaurant space, which would also probably be a better choice for longer hours for them downtown....

I still think Cafe 7 is a decent fit for the Aloft restaurant space, which would also probably be a better choice for longer hours for them downtown....

I can DEFINITELY endorse that!

I know several groups have talked to Jim Thompson about that Aloft restaurant space but he has proven difficult to work with, thus it continues to sit empty while the restaurant market goes crazy all around that property.

Good to know. I've heard one of the sticking points is he won't give up any aloft parking (which sits largely empty) for restaurant use...

One of the biggest mysteries about Aloft is the parking garage. Perhaps it is haunted? Or maybe they just like poaching their guests for valet fees?

Oh well, at least the sheriff has somewhere to park on weekend nights (the sidewalk).

The tenants and their customer's are still suffering.

http://www.oklahoman.com/another-hot-day-at-first-national-center-in-oklahoma-city/article/5444174

Bye Felicia!

Judge orders First National to immediate receivership; restoration of air conditioning, elevator service priority | News OK (http://newsok.com/judge-orders-first-national-to-immediate-receivership-restoration-of-air-conditioning-elevator-service-priority/article/5444292)

Bye Felicia!

Judge orders First National to immediate receivership; restoration of air conditioning, elevator service priority | News OK (http://newsok.com/judge-orders-first-national-to-immediate-receivership-restoration-of-air-conditioning-elevator-service-priority/article/5444292)

Finally some good news.

I know several groups have talked to Jim Thompson about that Aloft restaurant space but he has proven difficult to work with, thus it continues to sit empty while the restaurant market goes crazy all around that property.

Sadly, Jim Thompson, the son, is nothing close to the likeability of Jim Thompson, Sr., who passed in 2008. Just my opinion.

Bye Felicia!

Judge orders First National to immediate receivership; restoration of air conditioning, elevator service priority | News OK (http://newsok.com/judge-orders-first-national-to-immediate-receivership-restoration-of-air-conditioning-elevator-service-priority/article/5444292)

There's some excellent information in this, be sure to watch the full video in addition to the article.

There is some excellent information in that last article by Steve. While it may be possible the ultimate buyer will be one of these two who submitted offers I'm guessing not. Steve said in a tweet last night that one of the two had ties to Yashouafar, which is a scary thought. Is it Goodman or Sarimsakci?

My guess is Sarimsakci. Goodman looks like he has the contract for a long time, appears like he has done a lot of due diligence, etc. But Sarimsakci swoops in at the last minute and presents no concrete plans and a higher offer. No businessperson in their right mind buys a property without having a well-thought out plan, especially one in litigation where you will have to go before a judge to gain control.

But really, I'm just glad Yashouafar and Neman and Abselet have no control over the building now. I trust Jim Parrack will get the full slate of bidders he needs to make a decision, and this board and Steve will help vet them (hopefully we know the stages / finalists / etc. and not just the winner).

Several months ago there was a massive construction project announced for downtown Dallas to be built by Sarimsacki in an article i read in the Dallas Morning News. The impression i got from comments is there was a lot of feeling this was a wild and crazy proposal, literal or figurative eye-rolling and a lack of belief. All of this reminds me of the mysterious Indonesian billionaire who bought the Skirvin Hotel years ago and was going to refurbish it. If Sarimsekci compares himself to Donald Trump, its likely shady.

Several months ago there was a massive construction project announced for downtown Dallas to be built by Sarimsacki in an article i read in the Dallas Morning News. The impression i got from comments is there was a lot of feeling this was a wild and crazy proposal, literal or figurative eye-rolling and a lack of belief. All of this reminds me of the mysterious Indonesian billionaire who bought the Skirvin Hotel years ago and was going to refurbish it. If Sarimsekci compares himself to Donald Trump, its likely shady.

That was the twin 80 story tower proposal.

What is going to be key for this project moving forward is that it doesn't sell for top dollar.

Out of curiosity, what recourse would Yashouafar or the Nemen Brothers have if Parrack sold the property for a significant discount, say $3M sales price?