The Real Deal New York

Actor’s nightmare? Players Club hit with foreclosure action

Financially strapped society said to owe over $264K in back taxes on Gramercy digs

April 22, 2014 12:25PM

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16 Gramercy Park South

16 Gramercy Park South

New York’s storied Players Club may soon get the boot from its longtime Gramercy Park home.

The actors’ society is reportedly riddled with debt, owing more than $264,000 to the city in back taxes. As a result, the club was slapped with a foreclosure action on its 16 Gramercy Park South home last week, according to court records cited by DNAinfo.

“You are in danger of losing your home,” court papers said.

Despite the threat, Arthur Makar, the club’s new president, dismissed concerns.

“All I can tell you right now is we have a plan in place and it’s not going to happen,” he told DNAinfo, declining to disclose any of the plan’s details.

The city put a lien on the property after the financially-troubled institution failed to pay property taxes. The lien was then sold at auction last May to a trust now managed by servicing agent MTAG, attorney Thomas Malone, who filed the court papers, told DNAinfo.

According to MTAG’s website, the Players Club owes an additional $50,000 in interest and fees, in addition to its $264,000 debt. MTAG did not respond to DNAinfo’s request for comment. [DNAinfo]Julie Strickland

  • gramercyguy

    Wrong picture, you have used the National Arts Club picture. Come on……This is not rocket science

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