TULSA, Okla. — Hundreds gathered at the Arvest Convention Center -- for the June Real Estate Auction put on by the Tulsa County Treasurer's Office. One item that gained buzz? Property 1243 at 41st and Yale which is part of the Promenade Mall.
It was for sale, until it wasn't.
Kohan Retail Investment Group made a payment on June 5, removing the mall from the list.
"By paying the 2021 taxes, which was the oldest year, that removed them from the auction this year," Tulsa County treasurer chief deputy Summer McKerrell says. "They still currently owe 2022-24, so if they don't pay, then we're in this position again next year."
Here's a look at the numbers. Kohan owed over $800,000 in back taxes dating back to 2021. Last week, the treasurer's office got a call from a company regional manager, who said the owners would pay $265,609.05, the amount owed from 2021, taking them out of the auction.
Previous Coverage >>> Promenade Mall no longer up for auction in 2025, owners paid some back taxes
Of that amount, $100,964.55 went towards penalty. The company still owes $543,153.94 for taxes from 2022-24. If they don't pay that amount in full by the 15th, they face another hit in interest.
"Lots of people that pay year to year, right before the sale," McKerrell said. "We have a lot of repeats that are in the auction each year."
Meanwhile, the mall continues to sit in disrepair. We showed you the conditions of the property in April, where unlocked doors around the mall led to vandalism. We reached out to Kohan for comment on the payment, and any future plans at Promenade but didn't hear back. McKerrell says the treasurer's office hasn't heard either.
Additional Coverage >>> TRASHED: A look inside abandoned Promenade Mall
"I do not know if they plan to take it next year, or if they have plans to come in next week and pay it off. I don't know that," McKerrell said.
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