The New York City townhouse that has been the home of the Friars Club, a legendary private club for the entertainment industry elite, is scheduled to go a foreclosure auction on Nov. 26.
The New York Post reported the five-story, 14,541-square-foot, English Renaissance-style property in Midtown Manhattan has defaulted on its mortgage from Kairos Credit Strategies – the club now owes $18.4 million. The club’s financial problems have metastasized for several years – its director pled guilty to tax fraud in 2019 and the pandemic shut down plans for a new restaurant at the venue. A prospective buyer who emerged last year opted not to acquire the property.
The Friars Club was founded in 1904 was founded started by press agents and many prominent figures in American entertainment were among its members. The venue became part of the popular culture for its risqué and often raucous celebrity roasts that were broadcast on radio and television.
Photo: The William B. Williams Room, on the third floor of the New York Friars’ Club. Photo by John Paterakis / Wikimedia Commons.
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