A. Lee Graham Reporter One of downtown Fort Worth’s most visually striking buildings has sold, with the Sinclair Building now owned by a group of local investors.
“I’m not at liberty to say who they are,” said Nicholas Pappas, a Fort Worth attorney who represented Sinclair Holdings LLC, the investors’ group, in the transaction.
Selling the property was The Sinclair Building Partners LP, an investment group headed by Ken Jaffe, Allyson Baumeister and Rick Baumeister that purchased the building in September 2006.
The purchase price for the latest transaction was not disclosed, but the 512 Main St. property is valued at $5.8 million, according to the Tarrant Appraisal District.
The deal closed on Friday Dec. 13 with a deed expected to be filed in coming weeks, Pappas said.
The 16-story structure, on the northwest corner of Main and Fifth streets, was built in 1930 and reflects the Art Deco architecture of the time. Designed by Wiley G. Clarkson and built by Harry B. Friedman, it underwent a 1990 restoration that transformed the lobby into a virtual museum, with display cases containing salvaged artifacts, as well as photographs taken before and after the restoration.
Original plans to name the building the Dulaney Building, after its then-owner, changed to reflect Sinclair Oil Co., its main tenant.
lgraham@bizpress.net