The owner of Price Tower confirms the iconic skyscraper is officially for sale

The owner of Price Tower has confirmed the iconic skyscraper is officially for sale.

FOX23 shared Friday that the owner, Cynthia Blanchard, was considering selling the tower.

“It’s been a process to come to that decision, but it’s the right one for the tower,” said Blanchard.

Now, she is ready to sell the property and said there have been potential buyers for months.

Blanchard told FOX23 on Sunday that she was hopeful someone with a passion for the tower would take over.

“We did have a couple of private opportunities that we explored so we’ve been doing our due diligence for the last 4-5 months with different situations,” said Blanchard.

When asked how the selling of the tower could impact its shareholders, Blanchard shared there has been “very good and positive communication with them and they are very much wanting the same conclusion as everyone: a win-win.”

Blanchard had been selling items from the tower due to financial trouble.

As for how she got to that point, she said she bought the property months before she was ready and that is why the company has not upheld their promise to put $10 million into restoring the building.

“We know that we didn’t know what we were stepping into,” said Blanchard.

She said the previous owners came to her in 2023 saying they would have to shut down and “declare bankruptcy at the end of February if nothing was done.”

In August of this year, the hotel inside the tower closed but it is still open for tours.

Blanchard shared she is unsure if the tower would close if the tours stopped.

“It’s one day at a time, and I hope we will be able to continue that,” said Blanchard.

She said she is hopeful a new owner will take over in the coming months and does not plan to be involved with the tower after it is sold unless asked by the new owners.