Classic Car Club Manhattan Unit Files Bankruptcy Over Lease – Bloomberg
A unit of Classic Car Club Manhattan, the private club that lets members drive its fleet of luxury vehicles, filed for Chapter 11 bankruptcy on Friday in New York in an effort to preserve its location on Manhattan’s West Side.
New York Classic Motors LLC holds the lease on the club’s space at Pier 76 near the Hudson River. The club is a tenant of Hudson River Park and received notice from the park in January that it needed to vacate the space as part of planned development, even though the club had more than four years remaining on its lease, according to co-founder Michael Prichinello. He called the bankruptcy a “defensive move” to preserve its space. The filing will delay any departure until a court ruling.
