T
he iconic Friars Club townhouse in Midtown Manhattan is up for auction on November 26th, with a starting price that's likely to be a fraction of its true value. The five-story English Renaissance-style property at 57 E. 55th St. has been a hub for comedians and A-listers, but it needs significant TLC after years of fiscal struggles and floods.

    Despite its current state, the building still boasts an impressive array of features, including ornate barrel-vaulted ceilings, stained glass windows, marble fireplaces, and decorative carvings. The interior is not landmarked, leaving room for a new owner to reimagine the space as a consulate, private club, restaurant, or even a blend of luxury purposes.

    The property's history is steeped in glamour, having hosted some of the biggest names in entertainment, including President-elect Donald Trump, Jerry Seinfeld, and Barbra Streisand. The Friars Club has also been featured on TV shows like "Seinfeld" and has a long tradition of risqué celebrity roasts.

    However, the club's finances have been a concern for years, with millions in mortgages piling up while annual dues remained relatively low at $5,165 per member. A previous owner had even hired a convicted charity scammer as a fundraising consultant, further exacerbating the group's financial woes.

    The current lender, Kairos Credit Strategies, is looking to recoup its $18.4 million investment, but it's unclear whether they'll accept less or if bidders will drive up the price. With its rich history and potential for renovation, this property could be a unique opportunity for someone looking to create a one-of-a-kind destination in Manhattan.