Lakeview Towers/Mid-Town Apartments

[cloverstack]

This is the high-rise apartment building at 6001 N Brookline (near the Best Buy/Home Depot shopping center and Founders Tower).

Today I drove by and noticed almost no lights on in the building (the ones that were on were on the lower floors), and few or no cars parked there. In other words, it appears to be vacant.

The property manager/owner, VTT Management, still lists the building as one of their properties on their website. However, the website linked there appears to be down and the local phone number listed is disconnected.

I can't find any other information on what's going on with this particular building, although it's possible to have missed it. Might they be renovating it like with the Tiffany, or maybe there are financial troubles or something?

[Mr. Blue Sky]

This is the high-rise apartment building at 6001 N Brookline (near the Best Buy/Home Depot shopping center and Founders Tower).

Today I drove by and noticed almost no lights on in the building (the ones that were on were on the lower floors), and few or no cars parked there. In other words, it appears to be vacant.

The property manager/owner, VTT Management, still lists the building as one of their properties on their website. However, the website linked there appears to be down and the local phone number listed is disconnected.

I can't find any other information on what's going on with this particular building, although it's possible to have missed it. Might they be renovating it like with the Tiffany, or maybe there are financial troubles or something?

Good question. My wife and I drove by recently and it is - vacant. No sign on the doors, nothing. I'm interested to hear what is happening as well.

[Pete]

Yes, the complex has been closed since the middle of the summer. I took the photos below in early August.

I suspect a complete renovation but I can't get the owners to return my calls which is why I haven't posted about it.

It's pretty rough around the edges and overdue for a makeover ala the Tiffany. But no permits have been filed as of yet.

[Mr. Blue Sky]

This is just the weirdest thing. They are not saying anything about this. Lakeview Towers (Mid-Town Apts as of late) has been a fixture in NW Oklahoma City for many years. It is owned by VTT out of Boston. The owner, Vaios Theodorakos, is keeping things close to the vest. They have even disconnected their phone number, which they had for 58 continuous years!

Here is an ad from 1961. The phone is the same as is still listed - yet disconnected. How often do you see that?



http://www.vttmanagement.com/propert...php?property=4

[BDP]

Here is an ad from 1961. The phone is the same as is still listed - yet disconnected. How often do you see that?



http://www.vttmanagement.com/propert...php?property=4

Fall Out shelter!

[Mr. Blue Sky]

Any news coming from anyone about this yet?
I’ve heard from a couple of different people that the Boston owner is not well liked by many in the area. Doesn’t respond to much of anything and never has apparently. Their web page talking about renovation has said that for a long time. The feel they already have done major renovations. Now, it stands empty for months and silence from the ownership? Could he demolish with a simple permit?

[Pete]

I suspect they had some major problem that caused them to close. Why else throw people out of an almost full tower and then leave it closed for almost a year?

It hasn't been for sale and there have been zero permits for any sort of work.

Have no idea what is going on here.

[mugofbeer]

I hope this doesn't turn into another FNB - type debacle where the "big city" owner is using the old apartment building out in "hicksville Oklahoma City" as a tax write off and will just leave it to topple over.

[Rover]

I hope this doesn't turn into another FNB - type debacle where the "big city" owner is using the old apartment building out in "hicksville Oklahoma City" as a tax write off and will just leave it to topple over.

People don’t just lose millions of dollars so they can take it off on their taxes. They would have to be in the 100% tax bracket. There is no incentive to tear it down unless the land is very valuable...which it isn’t at that location.

Perhaps they ran into fatal structural problems or insurmountable environmental issues. If so, it may cost more to mitigate than it would be worth afterwards. Or maybe financing to remodel fell through. Any number of things are possible, and many can be unexpected.

[mugofbeer]

People don’t just lose millions of dollars so they can take it off on their taxes. They would have to be in the 100% tax bracket. There is no incentive to tear it down unless the land is very valuable...which it isn’t at that location.

Perhaps they ran into fatal structural problems or insurmountable environmental issues. If so, it may cost more to mitigate than it would be worth afterwards. Or maybe financing to remodel fell through. Any number of things are possible, and many can be unexpected.

Sorry, 6 months later and its stone cold empty. I'm still going with the tax write-off angle like the lovely LA folks who owned the FNB. This can be a prime piece of residential property or it can be a prominent vacant slum.

[Pete]

Still empty and no building permits. So strange.

[OkieNate]

It is especially sad seeing this as it is considering how fantastic and successful the Tiffany remodel is.

[Pete]

The views of downtown to the southeast and the lake to the northwest are pretty spectacular, and each unit has a large balcony.

I suspect a big renovation is coming because this is a great property with tons of potential.

[gopokes88]

The views of downtown to the southeast and the lake to the northwest are pretty spectacular, and each unit has a large balcony.

I suspect a big renovation is coming because this is a great property with tons of potential.

Not an urban by any means, but an awesome part of town to live in.

[SEMIweather]

Not an urban by any means, but an awesome part of town to live in.

Excluding any areas bounded by the I-235, I-40, and I-44 loop, this is probably the best part of OKC to live in IMO.

[Mr. Blue Sky]

I hope we hear something on this soon. It’s just really odd for this to sit empty for so long.

[HOT ROD]

urban suburbia.

[gopokes88]

urban suburbia.

Sub-urban?

[Pete]

Still nothing happening here and I haven't seen any permits:

[bucktalk]

While I was at Best Buy a few days after Christmas I saw a work crew on top of Lakeview Towers/Mid-Town Apartments. From what I could tell they were either doing roof work or replacing something on the roof top. So...some sort of work is going on but not sure what.

[Pete]

^

May have been an inspection.

I hope this sells soon so it can be properly renovated. Some of the best views in all of OKC and a great location in general.

[bucktalk]

Could be, could be. There were about 15 guys doing some kind of work. Yes! Great location and great potential.

^

May have been an inspection.

I hope this sells soon so it can be properly renovated. Some of the best views in all of OKC and a great location in general.

[PaddyShack]

I think it would be cool for these to be built to suit. For example, I would want to purchase two or three units and conjoin them. I am thinking of having a unit on one floor with the other units on the next floor up. It would be expensive to configure, but something that hasn't been done in OKC it seems.

[Pete]

I think it would be cool for these to be built to suit. For example, I would want to purchase two or three units and conjoin them. I am thinking of having a unit on one floor with the other units on the next floor up. It would be expensive to configure, but something that hasn't been done in OKC it seems.

I very much doubt it would ever go condo, as Founders Tower had a terrible time and a bunch of units were just recently sold at auction.

I would think the Tiffany route would be more likely, but they faced similar issues due to small units that couldn't be easily changed due to concrete walls.

[Pete]

Still nothing happening here.

Very strange, especially since housing is red-hot right now.