First National Center

[ljbab728]

Interesting. That's the first time I've heard it from that viewpoint.

This is a previous statement from Parrack that seems to indicate that he thinks differently.

“I think my fiduciary responsibility is to sell it, but also to make sure they are qualified buyers and make sure they can perform,” Parrack said. “I think it is broader than just unloading it.”

[Pete]

He can sell it, but only with Approval.

Here is how the court order defines Approval:

Any time “Approval” is required with respect to any action of the Receiver, such action will be authorized only if and when the Receiver receives the written consent of Plaintiff and the other parties to this action or when the Receiver obtains entry of an order of this Court, which may be sought and approved on an expedited basis.

Yashouafar and Neman are still parties to this action (so are Abselet and the mortgage holder), so Parrack would either need their approval or the court would have to issue a new order.

[ljbab728]

He can sell it, but only with Approval.

Here is how the court order defines Approval:



Yashouafar and Neman are still parties to this action, so he would either need their approval or the court would have to issue a new order.

OK, that clarifies it. I would still think that it seems unlikely, based on what has happened to this point, that the court would wait for a final verdict on ownership, before approving a valid sale.

I'm still a little unclear about what it means when it says "Any time 'Approval' is required". Is it defined when that is required?

[Pete]

At this point I don't think the court cares about the ownership makeup of the LLC.

As long as the appropriate person(s) for the ownership LLC (probably just the president) execute sales and closing docs, the true ownership mess can be dealt with after the fact.

It really only matters to Abselet and the judge has already said that he wouldn't let that issue stand in the way of a sale.

[ljbab728]

That was exactly my point earlier. I think the court will do everything necessary to expedite a good and valid sale of the property.

[Pete]

Right, at least clear title can now be delivered.

However, if Goodman is still willing to pay $23 million, from what I was told that is way more than any local group was willing to pay previously. Believe they were more in the neighborhood of $10 million and thus never made much progress once guys like Goodman started to talk much bigger dollars.

All that may end up happening is that the court clears the way for Goodman to actually get the property under contract and tender the $23 mil.

[bchris02]

So do you think Goodman is the safest bet at this point to actually get the job done?

[Pete]

Goodman obviously wants the property and has been trying to give them $23 million for it.

It's hard to imagine anyone willing to pay much more, so if he can perform and deliver the funds, he'll probably be the new owner.

[ChowRunner]

In first National now.. And I was not only surprised to see all of the signs posted to discourage people from going to the old bank lobby have been removed - - but they have also turned the escalators back on going up there. It's been many years since I have seen that.

[Laramie]

In first National now.. And I was not only surprised to see all of the signs posted to discourage people from going to the old bank lobby have been removed - - but they have also turned the escalators back on going up there. It's been many years since I have seen that.

Glad to hear that the escalators to the Great Banking Hall are operable. Although there were posted signs; people continued to walk up the steps to enter the empty hall. We (brothers) took our children & grandchildren there many times upon leaving the Golden Dragon.

The concourse tunnel basement escalator to Chase Bank & other places were also available as you exit the east end ground floor level.

[Pete]

BTW, Parrack is being paid $7,500 per month to act as receiver and will receive a $200,000 incentive fee upon sale of the property.

[ShadowStrings]

BTW, Parrack is being paid $7,500 per month to act as receiver and will receive a $200,000 incentive fee upon sale of the property.

How do I sign up for a job like this?

[OkieNate]

How do I sign up for a job like this?

Law School.

[sooner88]

Law School.

Parrack is a broker....

[UnFrSaKn]

https://my.matterport.com/show/?m=KoDjhS4xehe

[Of Sound Mind]

https://my.matterport.com/show/?m=KoDjhS4xehe

That is so awesome, UnFrSaKn! Thanks!

[ABryant]

That is really awesome.

[bchris02]

That place is simply amazing.

[Dustin]

https://my.matterport.com/show/?m=KoDjhS4xehe

Wow wow wow!

They don't build em like they used to. Such a stunning space.

If I ever hear the words "demolition" and "First National Center" in the same sentence, I'm gonna drive down there and chain myself to the building...

[Spartan]

Wonder how many more seedy out of state owners this building can withstand though. Not calling the new guy that, but I'm sure if the City doesn't give him gobs of cash just that lies behind Door #2.

[ljbab728]

Wonder how many more seedy out of state owners this building can withstand though. Not calling the new guy that, but I'm sure if the City doesn't give him gobs of cash just that lies behind Door #2.

You are certainly in a very positive state of mind today, Spartan. Did somebody kick your cat?

[baralheia]

Wow, that is fantastic! That 3D walk-around view is really really cool, and what a way to showcase that fantastic Great Banking Hall. It reminds me of visiting Union Station in Chicago, and the Great Hall in that building. Awesome stuff.

[Spartan]

You are certainly in a very positive state of mind today, Spartan. Did somebody kick your cat?

I really don't do that, but I can see where you'd think that lol. But you'll notice in the same posting spurt that I really liked the Flatiron third floor!

I just call it like I see it. I really do look to OKC topics to provide inspiration more often than not, but let's be real lol...that's becoming a rarity.

[Pete]

Photo below is from the ground-level arcade looking towards the west entrance.

I was surprised to see so many tenants still there, at least on the 1st floor: Nancy Farha (on the left of the photo), Cafe 7, Tinder Box, Golden Dragon, Pharmacy and several others.

As has been mentioned, not only are the "not welcome" signs gone from the stairs up to the Great Banking Hall, the escalators were on to take you up to that beautiful space.

[Pete]

Just received this sales flyer: