After last week's news that the Eldridge had been sold, the next logical question to ask was who the buyer was and what do they plan to do with it? After all, the space is tiny, and the supposed $500,000 in key money that Matt Levine got for the lease makes it a challenging place to profitably operate. Today we have those answers, with the NY Post reporting that ex-model turned real estate broker Sean Hughes is the buyer. Hughes says he is planning a "major revamp" of the space, with the goal of being "more inclusive -- instead of creating a super-super hip place where people pay ultra-high prices for bottle service." The new owner will be ripping out the bar and the banquettes and will rename the joint before reopening in May.
Former owner Matt Levine has been telling anyone who will listen that his club didn't really go out of business, it just sold. This included an email to us, where he argued that his club outlasted a lot of other ones who opened around the same time as the Eldridge. He also disclosed his sales to us in the email, but then asked and argued that we shouldn't be including them in any story so they have been removed per his request.
But best of luck to Mr. Hughes and his team on their new venture.
· The Eldridge Gets Model Owner and New Purpose [NYP]
· Ding Dong The Eldridge Is Dead [~ENY~]
· A Brief History of Matt Levine's The Eldridge [~ENY~]
· Nightlife Coverage [~ENY~]