August 10th 2023.
After two decades of serving as a staple of the New York City nightlife scene, Jay-Z has announced the closure of his iconic 40/40 Club. The bar and lounge hosted its final party at the end of July in the Flatiron District, and a spokesperson confirmed to NY Eater that the club will be relocating sometime next year.
The 40/40 Club has been the site of many star-studded events since its launch in 2003, from J. Cole's album release party to LeBron James' birthday celebration. Not only did locals and tourists come to enjoy the club, but Jay-Z opened four additional locations over the years. The Las Vegas lounge opened in 2007, the Atlantic City club in 2009, a bar at the Hartsfield-Jackson International Airport in Atlanta in 2012, and a restaurant at Barclays Center in Brooklyn in 2013. Unfortunately, the Las Vegas location closed one year after its launch, and the Atlantic City location closed in 2013 due to unpaid rent.
The 40/40 Club faced its own set of controversies over the years. In 2012, it re-opened following a Forbes deep dive into its declining attendance and labor disputes. Jay-Z was also said to be losing interest in the club, and was opting to spend time at The Spotted Pig, a West Village gastropub he co-owned at the time.
In response to the issues, Jay-Z put $10 million into renovating the flagship lounge in order to make it more competitive with newer clubs in downtown Manhattan. He told Rolling Stone ahead of the reopening that he wanted to maintain the relaxed atmosphere of a clubhouse, where friends could come together.
Though the 40/40 Club is now closed, the Brooklyn location remains open. Jay-Z's involvement with The Spotted Pig came to an end when it closed in 2020, and his real estate company, SCC Greenwich Realty, sold the location for $7.5 million in 2022.
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