Players Club’s Gramercy digs could hit the market

June 24, 2013 09:00AM

The Players Club’s historic townhouse in Gramercy Park could hit the market as the club struggles to deal with spiraling debt, DNAinfo reported.

A possible sale of the building at 16 Gramercy Park South was brought up at the actors society’s annual meeting last week, attended by DNAinfo. The club’s treasurer told members that even if the 125-year-old institution’s iconic building was sold, the club – which is facing $4 million in debt — would still be able to settle in a new location.

But Players board president Johnnie Planco told DNAinfo that any potential sale would only be “an end of the world possibility.”

The 10,000-square-foot plus, four-floor, park-facing mansion could fetch more than $14 million, according to DNAinfo’s estimates. The neighborhood commands average prices of $1,464 per square foot, according to CityRealty.

But after the club failed to pay more than $250,000 in back taxes, the city placed a lien on the property, according to Department of Finance officials contacted by DNAinfo.

The neighborhood has seen a fair amount of tumult in recent months. Just across the street, a city housing court judge ruled in May in favor of the National Arts Club in its move to evict former president O. Aldon James from its headquarters at 15 Gramercy Park South, as The Real Deal reported. [DNAinfo] – Hiten Samtani