Actor’s nightmare? Players Club hit with foreclosure action

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

New York /
Apr.April 22, 2014 12:25 PM

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


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Gov. Andrew Cuomo (Getty, iStock)

State proposes zoning override for commercial-to-resi conversions

State proposes zoning override for commercial-to-resi conversions
President Joe Biden (Getty; iStock)

Biden to extend limits on evictions, foreclosures

Biden to extend limits on evictions, foreclosures
Gene Martinez (Compass)

Gene Martinez, early Compass recruit, dies

Gene Martinez, early Compass recruit, dies
(Photo illustration by The Real Deal)

This office redeveloper is going all in

This office redeveloper is going all in
Vijay Dandapani, president & CEO, Hotel Association of New York City (Getty)

Hotel owners ask NY for break on tax penalties

Hotel owners ask NY for break on tax penalties
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...