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

Bargain buy?

Burnett Plaza, the tallest building in Fort Worth, Texas, has been purchased via foreclosure auction for $12.3 million just three years after it was sold for more than $137.5 million, according to the Dallas Business Journal.

The 40-story behemoth was bought back by Pinnacle Bank Texas in the auction held on the steps of the Tarrant County courthouse on Tuesday. 

Pinnacle had claimed in public filings that the tower's former owner, Burnett Cherry Street LLC, an affiliate of New York-based Opal Holdings LLC...