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57 E 55th StNew York, NY 10022
Friars Club - 57 East 55th Street
Asset ClassSpecial Purpose
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Overview

BKREA has been retained on an exclusive basis to arrange for the sale of 57 East 55th Street (“The Property”). This historic limestone building, known as The Friars Club, spans 14,541 square feet across five floors and features 33 feet of frontage. For over a century, The Friars Club served as a hub for legendary entertainers and industry professionals. It stands as one of New York’s most significant cultural institutions, having played a pivotal role in shaping entertainment history. Countless entertainment icons have called the club their own, including Frank Sinatra, Jerry Lewis, Dean Martin, Milton Berle, and Johnny Carson. The Friars Club presents a once-in-alifetime opportunity to own a piece of New York City’s cultural and architectural history. The Property is in the heart of Midtown Manhattan, one of the City’s most prestigious locations. It stands two blocks from the 53rd Street E and M Trains, three blocks from the 4, 5, 6 trains at Lexington and 59th Street.The Friars Club sits in one of the world's most prestigious shopping districts, featuring the flagship locations for Louis Vuitton, Gucci, Prada, and Tiffany & Co. Additionally, The Friars Club is surrounded by some of Manhattan’s most acclaimed restaurants and cultural institutions ranging from the upscale Greek seafood restaurant, Avra and The Modern which features contemporary American cuisine at the Museum of Modern Art (MoMa). Whether continuing its legacy as a private club, a high-end restaurant and fine dining establishment, or a combination of both. It can also be reimagined as an opulent single-family mansion, or converted into a consulate or embassy; this property offers unmatched potential and flexibility in one of the world’s most prestigious neighborhoods.

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Investment Highlights

  • User Potential - The property offers a range of potential uses, including an exclusive private club, a single family mansion, a high-end restaurant, a boutique hotel, a cigar club, a consulate or embassy, or a combination of these uses.
  • Brand & Legacy Value - An internationally recognized address with a 120-year history of cultural significance, the property carries a wealth of built-in exposure.
  • Market Timing - Demand for exclusive membership clubs is growing, alongside a resurgence in private dining and entertainment venues. Additionally, New York City’s tourism sector is stronger than ever, further supporting the viability of these uses.
  • Operational Flexibility - The property holds existing certificates of occupancy for multiple uses and features an established entertainment and food service infrastructure. Its flexible floor plans support various concepts, offering the opportunity to phase improvements and incorporate mixed-use programming.
  • Strong Market Fundamentals - Situated in one of Manhattan's most exclusive submarkets, the property benefits from consistently strong luxury retail and hospitality performance, an extremely high-net-worth residential population, and a strong corporate presence driving business demand.
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57 E 55th StNew York, NY 10022

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