Photo: Business Insider
Sometimes even the Masters of the Universe need their own sanctuary from the high-flying world of Wall Street.Enter Manhattan’s exclusive members-only clubs.
No, we’re not talking about the ones behind the velvet ropes, but instead the ones you might not even notice when you walk by.
These hideaways, which tend to come with steep fees and require an invite to join, usually offer members a place to dine, relax and hangout. They also have some pretty sweet amenities, too.
What’s more is many of these clubs prohibit business meetings and the use of mobile phones offering a reprieve from the work day. Others, however, aren’t so strict on conducting business.
So we’ve decided to select 10 of the city’s most exclusive clubs and detailed why they would be ideal for the Wall Street crowd.
Getting into the club is up to you.
Location: 101 Broad Street (Financial District)
About: The club was established in 1906 by members of the fly-fishing community.
Amenities: The 2,500-square-foot downtown club headquarters features a private 65-seat dining room. The club serves lunches daily for members and guests Monday-Friday from 11 a.m. to 5 p.m. According to Forbes, the club has 'perhaps the best angling library in the world.'
Dress code: Jackets required.
For The Street: Not only is the club's headquarters located in the heart of the Financial District just blocks from the exchange, but some pretty impressive Wall Streeters have been spotted there including hedge fund legend Paul Tudor Jones, Blackstone's president Hamilton 'Tony' James and Silver Lake Partners co-founder Glenn Hutchins.
Membership: In 2011, DNAInfo reported that the club has ~600 members from around the world. Those fly-fishing enthusiasts who want to join have to be invited to the club through introduction of a current member. While women are allowed to visit and be employed by the club, they're reportedly not allowed to be card-carrying members.
Location: 17 East 89th Street (Upper East Side)
About: This elite club -- which was founded in 1999 by former Westinghouse Broadcasting exec Susan Stautberg -- has been described as the female version of the famous male-only Bohemian Club in San Francisco, California. These ladies, who tend to be in their 50s and 60s, are said to be the top leaders in technology, finance, media, law and retail. As the New York Times put it, the Belizean Grove is 'becoming what could be considered the world's ultimate old girls' club.'
Amenities: How about some awesome trips? These ladies convene either in Central or South America for four day meetings.
Dress code: Unknown.
For The Street: These so-called Grovers are said to have done deals together and helped each other join corporate boards, according to the NYTimes. Also, top execs from various companies including Goldman Sachs are said to be members of this exclusive group.
Membership: It's for women only. The NYTimes reported there are ~125 members. New members are reportedly chosen by current members and then they're taken to meetings with a membership committee and they get assigned a 'big sister.' Also, only one person from a company can join the exclusive group.
Location: 60 East 55th Street
About: As The New York Times put it 'At the Core Club, members have things more unusual in common than Mayflower bloodlines or shared memories of freshman year at Deerfield.' Basically, the Core Club is for the ultra-wealthy.
Amenities: The Core Club has its own restaurant, terrace, bar, lounge and private dining room. As a member you can have access to speakers, rare art and artists, a satellite office that you can expense, a spa, salon & barber, fitness studio and a screening room. You also get the keys to some sick sports cars the club rents for its members every year.
Dress code: While most other clubs maintain strict dress codes, the Core Club allows its members to wear jeans if they choose.
For The Street: Chances are at the Core Club you'll be able to rub elbows with the likes of Steve Schwarzman and you might get the chance to meet the best financiers in the world, like George Soros, Woody Johnson, and Carl Icahn, who spoke to club members last year. The late Bruce Wasserstein and the late Ted Forstmann were both members. Perhaps another reason it's ideal for the Street is unlike most other dining/social clubs you can actually use your electronic devices and hold business meetings.
Membership: The cost is a $50,000 initiation fee and $15,000 a year to join.
Location: 60 Pine Street, between William and Pearl Streets (Financial District)
About: The DTA is the fifth oldest private club in Manhattan and it was initially opened as a luncheon club catering toward the brokers and financiers crowd and later the legal community. Today the DTA focuses on a younger generation, too.
Amenities: In addition to lunches, today the DTA offers breakfast, dinner service and evening drinks, a wine cellar, pool tables and a fitness centre.
Dress code: Coats and neckties are required in the main dining room and for Wednesday and Thursday dinner. Otherwise it's business casual.
For The Street: Location. Location. Location. For the finance crowd, this social club is conventient because it's close to Deutsche Bank's New York offices and it's near the New York Stock Exchange. It's also not a far walk for those at the World Financial centre or Goldman Sachs.
Membership: Both men and women can be members.
Location: 37 West 44th Street (Midtown)
About: The New York Yacht Club was founded in 1844 by a group of yachtsmen. The club is also known for starting the Americas Cup yacht race.
Amenities: The primary clubhouse features what is called a 'Model Room,' which features a massive display of model ships as well as a library and a grill room. Apart from the NYYC's beautiful nautical-themed clubhouse in Midtown, the group also has a base called 'Harbour Court' in Newport, Rhode Island.
For The Street: The New York Yacht Club's prominent members (past and present) include JP Morgan and Mayor Michael Bloomberg. Oh, and convicted ponzi schemer Bernie Madoff was a member, but he has since resigned. Another perk of membership is that big names might come to speak. For example, bond god Jeff Gundlach, the founder DoubleLine Capital, recently gave a presentation to investors at the New York Yacht Club.
Membership: Invitation only.
Location: 180 Central Park South
About: It's a private social and athletic club founded in 1896 as a place for accomplished athletes.
Amenities: The club boasts training facilities including a fitness centre, swimming pool, basketball courts, boxing rings, squash and racquetball courts and places to practice fencing and judo. There's also a library, card room and billiards room in addition to dining areas. There's also a clubhouse on Travers Island located in Westchester County.
Dress code: Business casual attire, with jacket and collared shirt, is required in public areas from Monday through Friday. Women are expected to dress in a similar formality.
For The Street: Wall Street has a reputation for employing the super competitive people, many of whom happen to be stellar athletes, which makes the NYAC an ideal place for them to exhibit their athleticism.
Membership: It costs a reported $8,500 to join and more than $3,000 a year for a membership. Both men and women can join. Members (there's about 8,600) are top notch athletes from disciplines such as track & field, lacrosse, basketball, swimming, wrestling, rowing, etc. What's more is the club's members throughout its existence have won 119 Olympic gold medals, 53 silver medals and 59 bronze medals. (Impressive)
Location: East 69th Street and Park Avenue (Upper East Side)
About: The Union Club, which was established in 1836, is the oldest private club in New York City.
Amenities: The historic Union Club building offers five dining areas, squash courts, a card room and a backgammon room.
Dress code: Jackets and ties are required for men and women have to dress in a similar formality. Those who wish to play squash are supposed to wear white clothing and collared shirts on the courts.
For the Street: As the oldest private club in New York, the Union Club has been described as 'an old boys club,' so if that's your style it might be an ideal place to join.
Membership: Annual membership fees are reportedly $5,000.
Location: 60th Street and Fifth Avenue
About: Famed financier J.Pierpont Morgan, the club's first president, founded the Metropolitan Club in 1891 after one of his friend's was denied membership to the Union Club.
Amenities: One of the highlights of the Metropolitan Club is the rooftop dining offering views of Central Park.
Dress code: 'Gentlemen are required to wear jackets and ties at all times (turtlenecks and ascots are not acceptable). Appropriate attire for ladies is dresses, skirts, dressy pant suits and business pant suits. Jeans, shorts, stirrup pants, leggings, stretch pants, tight pants, sweats and T-shirts are absolutely not acceptable,' according to the club's website.
For The Street: It was founded by J.P. Morgan, 'nuff said.
Membership: It's open to both men and women. The private social club is said to cost a reported $5,000 a year.
Location: 38 East 37th Street between Madison and Park (Murray Hill)
About: The Union League Club, which was formed in 1863, is rich in history. The club was founded by a group of men who wanted to preserve the Union. They were instrumental in establishing The Metropolitan Museum of Art in 1870 as well as the Sanitary Commission -- a predecessor organisation to the American Red Cross.
Amenities: There are overnight rooms, squash courts, a gym, dining facilities and pool tables on site. According to a Yelp reviewer, there's a golf simulator on the fourth floor (How cool is that?).
Dress code: Business attire, jacket and tie for men and equally formal attire for women, is required throughout the Union League on weekdays between labour Day and Memorial Day. It's a little more casual during the summer.
For The Street: Who doesn't want to get out of the office? Members can go on outings outside the club such as theatre, golf, shooting and wine tasting, according to a Yelp review. The Union League Club also offers speakers and events, both of which can be great for networking.
Membership: Fees unknown.
Location: 1 West 54th Street
About: The club was chartered in 1865 and its origins go back to 1861 when a group of college friends, mostly Yale alumni, wanted to form a group to extend their college ties.
Amenities: Like most members-only clubs, the University Club offers dining, overnight accommodations athletic facilties such as squash/racquetball courts. However, there's one thing that most others don't have (anymore) -- nude swimming. According to a NYTimes' article, nude swimming is allowed for male-members only.
Dress code: Men are required to wear jackets, dress shirts and ties. Women are required to wear clothing meeting similar standards -- suits, dresses and skirts or tailored trousers with dress shirts, blouses or sweaters.
For The Street: The club labels itself as the 'premier club of New York,' so what Wall Streeter wouldn't want to be seen there? Also, many finance-related panels and events are held at the club, so it's a good place to rub elbows with the best of the industry.
Membership: Both men and women can be members of the University Club. The fees are kept underwraps.
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