September 11 and Subsequent Bankruptcy
The club was less than half a mile south of the World Trade Center and closed after the September 11, 2001 attacks. The club never reopened, and declared bankruptcy in 2002. The 45-story building is now a residential tower named "The Downtown Club" which opened in 2005.
The Downtown Athletic Club clubhouse was not physically damaged in the attack on 9/11/01. But it was located within the "frozen zone" from which the public was excluded for an extended period during the clean-up after the attack. The club's finances could not withstand the financial impact of such a long closure. The members, as well as the dedicated managers and employees -some who had been with the club for over 20 years - were devastated at the loss of the club and their livelihood.
Read more about this topic: Downtown Athletic Club
Famous quotes containing the words september, subsequent and/or bankruptcy:
“This seems a long while ago, and yet it happened since Milton wrote his Paradise Lost. But its antiquity is not the less great for that, for we do not regulate our historical time by the English standard, nor did the English by the Roman, nor the Roman by the Greek.... From this September afternoon, and from between these now cultivated shores, those times seemed more remote than the dark ages.”
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