Luxury Core Club, a new private membership club in Manhattan, is set to open in mid-October with $100,000 membership fees. The club is located at 711 Fifth Avenue and spans over 60,000 square feet across four floors.
Core Club offers a wide range of amenities, including 11 luxury hotel suites, a spa, a gym, a juice bar, a speakeasy-style lounge, a culinary lab, a formal dining area, state-of-the-art conference and board rooms, a screening room, and a flexible events space and gallery.
The club also hosts between 150 and 200 cultural events a year, from performances, exhibits, and talks, to tastings, interviews, and showcases.
Core Club is looking for “interesting, curious people who will add to the community.” While the club never discloses the names of any of its members, some cited in past media reports include Blackstone CEO Stephen Schwarzman, NFL Commissioner Roger Goodell, fashion designer Tory Burch, Vornado CEO Steven Roth and Estee Lauder Executive Chairman William Lauder.
Is the New York Private Club Market Becoming Oversaturated?
With more clubs scheduled to open in the fourth quarter and beginning of next year, some members worry that New York and other big cities are becoming over-saturated with club offerings, especially if the economy plunges into recession.
Club owners and managers say they see no slowdown in demand, as the wealthy seek communities and private spaces where they can work, play, stay and network in a secure and exclusive space.
Industry watchers say the U.S. may be moving toward the London model of social clubs, where storied institutions like Annabel’s, 5 Hertford Street and White’s play a central role in the social and professional lives of the upper crust. Soho House, founded in London in 1995 by restauranteur Nick Jones, has expanded to become the global goliath of the private club world, with dozens of locations around the world and a publicly traded stock.
Why Are Private Clubs So Popular With the Wealthy?
Private clubs offer a number of benefits that are appealing to the wealthy, including:
- Exclusivity: Private clubs are only accessible to members, which creates a sense of exclusivity and prestige.
- Privacy: Private clubs provide a place where members can relax and socialize without having to worry about being seen or photographed.
- Networking: Private clubs are a great place to network with other wealthy and successful people.
- Amenities: Private clubs often have a wide range of amenities, such as restaurants, bars, gyms, spas, and pools.
Is Core Club Worth the $100,000 Membership Fee?
Whether or not Core Club is worth the $100,000 membership fee depends on the individual. If you are looking for a place to relax and socialize with other wealthy and successful people, and you can afford the membership fee, then Core Club may be a good option for you.
However, if you are on a budget or you are not interested in the exclusive lifestyle that Core Club offers, then there are other options available, such as public gyms, restaurants, and bars.