Tulsa Theater sold for $10 million to an LLC registered in Oklahoma City, ending Peter Mayo's 48-year ownership of the 112-year-old downtown landmark.

The sale price, drawn from Tulsa County Assessor records and first reported by the Tulsa World, includes the theater at 105 Reconciliation Way and multiple surrounding parcels. The buyer's identity has not been disclosed.

Mayo, a fourth-generation member of the family behind the Mayo Building, the Petroleum Building and the Mayo Hotel, bought the venue from the City of Tulsa on Jan. 14, 1978, for $37,777. He was the only bidder. The city had put the property up for auction in December 1977 after the Tulsa Performing Arts Center opened, and Mayo feared the building would be demolished.

He spent seven years renovating the space, finishing in 1984. The following year, he launched a cabaret series that brought Harry Belafonte, Glen Campbell and Paul Williams to the stage.

"The artists love it because of the way the balcony's laid out in a horseshoe … It has a great amount of intimacy," Mayo told the Tulsa World on Aug. 28, describing what draws performers to the venue. "You feel like the audience is right there. You can reach out and touch them."

The building opened in 1914 as Tulsa Convention Hall, then as the Brady Theater in 1979, and was renamed Tulsa Theater in 2019.

Mayo said the new owners have already begun making cosmetic changes to the property, according to the Tulsa World. The venue will continue hosting entertainment events under the new ownership.

What those changes look like, and who is behind the LLC, remain unknown. No renovation timeline or programming calendar has been announced.

Mayo wrote in an essay published by the Tulsa World on Aug. 28 that he is no longer the owner and called the transition bittersweet. He said he wants to give something back to the community that supported the theater through his tenure, according to a TulsaPeople profile published Aug. 31.

Mayo is planning a three-day farewell called the Mayo Final Encore, scheduled for Thursday, Oct. 1, through Saturday, Oct. 3. The event will feature his band, the Brady Orchestra (also known as Bradio), along with Tulsa artists Henry Zoellner, Annie Ellicott and The Moody Dudes. Mayo is also producing a throwback video with footage and family photos from the theater's 112-year history.

Tickets and information are available at mayofinalencore.com.