Fort Worth's tallest building sells for just $12.3M at auction in stunning price drop

Burnett Plaza, Fort Worth's tallest building, was sold at a foreclosure auction for just $12.3 million, a significant drop from its previous sale price of over $137.5 million three years ago. The 40-story building, encompassing over one million square feet, was reacquired by Pinnacle Bank Texas due to a default on a $13 million loan by the previous owner, Burnett Cherry Street LLC. The property, appraised at $104.5 million, also faces claims of unpaid renovation work totaling over $1.6 million.