realestate

NYC's Friars Club Foreclosure Leaves Heir in Quest for Valuable Photo

DJ's family seeks return of memorialized headshot after club's uncertain future.

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ew York City's Friars Club was once a hub of laughter and celebrity roasts, but its future is now uncertain after a foreclosure sale. Jeffrey Williams, son of beloved late DJ William B. Williams, wants his father's framed photo returned to him from the club's former location.

    The club, founded in the early 1900s by press agents, was a haven for entertainers and owned a multi-story townhouse at 57 E. 55th St. In 1984, Jeffrey's father was named Friars Club Man of the Year, just two years before his death. The club promised to honor Williams by naming a bar after him, but later moved the photo to the billiards room.

    Years of financial struggles and COVID-19 lockdowns led to the club's closure in 2022. Kairos Investment Management took possession of the building through a foreclosure auction, making a credit bid of $17.2 million. Jeffrey has been trying to retrieve his father's photo from the real estate agent, trustee, and Kairos.

    The property still contains plenty of furniture, celebrity memorabilia, and liquor bottles. The exterior was landmarked in 2016, but not the interior. A source said the lender is assessing the value of the memorabilia before making any decisions or reselling the building.

    Julien's Auctions, a specialist in celebrity memorabilia, expressed interest in representing the auction of Williams' portrait and other items from the club. Meanwhile, Jeffrey faces another issue related to the club's closure: his father bought three graves at Kensico Cemetery in Valhalla, but the cemetery needs permission from the club to open them for burial.

    "I am wondering how long I will have to be in a freezer before they can open the grave?" Williams quipped.

Friars Club building in New York City under foreclosure, heir seeks valuable photo.