New York’s Historic Down Town Association Files for Bankruptcy

The Down Town Association, the oldest social club in lower Manhattan and a former haven for New York and national power brokers, has filed for bankruptcy.

The not-for-profit corporation, founded in 1859, has less than $75,000 in cash and property to cover $6.9 million in debt, most of which is owed to landlord Great Empire Realty, according to its bankruptcy petitionfiled Thursday in New York. It’s seeking to reorganize under Chapter 11 protection using rules usually reserved for small businesses.

An event at the Down Town Association in New York in 2015.

Photographer: Sasha Maslov/The New York Times/Redux

Set in the shadow of the city’s financial district, the club’s location at 60 Pine Street dates from ...