After much speculation, it’s official: there is a sold sign in
the window of the Option House and Sam Sylvester of Bradford has
confirmed he’s the prospective buyer.

According to real estate agent Mike DePalma of Penn Laurel
Realty on Thursday, Sylvester has made an offer on the property
that current owners Dean Goodwill and Brett Herzog have
accepted.

“A sales agreement was signed about two weeks ago and the
paperwork has been sent to the lawyers to close on the deal,” said
DePalma.

Sylvester also released a statement of his own stating his
intentions with the building.

“Our focus at this stage is to ‘cleanup and clear out,'” he
said. “There are some very commodious accommodations for single and
double occupancy. We will diligently screen the guests we accept
and maintain a clean and quiet environment. This is a hotel and not
an apartment complex. Different rules apply.”

He also stated that it’s his intention to use local contractors
and suppliers for the renovations of the property as much as
possible.

Sylvester plans to convert the property back to the upscale
establishment it was more than 30 years ago.

“This building is an architectural gem in the heart of Main
Street,” he said. “Its historical significance cannot be
overstated.”

According to information made available by Bradford Landmark
Society Curator Sally Costik, the building was built in 1902 and
was originally used to trade stock options by oil producers more
than a century ago. It was climbed by “America’s foremost
human-fly” in 1927 and has changed hands of ownership many
times.

Costik also noted, as did Sylvester, that a campaign has been
started to register the Option House under the National Register of
Historical Places for its significance during the oil boom.

“We sill endeavor to bring this important landmark of Bradford
back to its former glory,” said Sylvester, “so that every citizen
can share in its past and its future.”

Sylvester sees no obstacle that could stop the sale at this
point, though both he and DePalma indicated that closing the deal
on a commercial property such as this could take up to a month