The Economy Dooms One of Long Island's Oldest Yacht Clubs
Country clubs and yacht clubs are finding this economy increasingly difficult to navigate. Newsday reports that the Knickerbocker Yacht Club, Long Island's second-oldest yacht club -- at 135 years old -- has shut down and is selling its prime Port Washington waterfront property.
The economy and membership decline doomed the club, which provided many generations with sailing and summer fun. Rising costs and decreasing membership fees meant that club was unable to create a budget that would pay the club's debts and provide sufficient funds for operating costs. The club's remaining 54 members will meet soon to discuss whether or not to continue as a club in name only to keep the tradition going. Membership was once as high as 280 in the 1980s. The club's property could worth between $4 million and $8 million. When it is sold, the debts will be paid and members will vote on what to do with any remaining funds.
Reader Comments (Page 1 of 1)
CK Dexter-Haven Feb 12th 2009 9:32PM
This is unfortunate. I have frequently sailed out of SCYC on Centre Island...I hate to see old clubs end that way.
skelley447 Feb 15th 2009 8:34PM
Oh Dear, whatever will Chad and Muffy do this yachting season?
Banger Feb 15th 2009 10:25PM
Yo think? Right and what will I do for work when these clubs close & they produce no more parties that I provide sound production for? It's not only the "Biff & Muffies" of the world that are being hurt here.
Another blue collar career down the drain...
Chuck Feb 15th 2009 8:33PM
Sad, like the end of ethics, civility and manners, another ship of tradition sails away, a symbol of another era for the historians to write about in books that nobody will read.
teltech54 Feb 15th 2009 9:10PM
IF you could keep records you will find that of all businesses in the United States, at least 35 percent of them will fold by years end. This figure includes businesses that have folded since June of 2008.This is the beginning of the Second Great American Experiment. Please spread the word. Please visit http://www.myspace.com/secondgreatexperiment and view my blog. Become a friend. The !!! experiment !!! will begin soon. Post this everywhere. Get the word out.
Frankie D Feb 15th 2009 9:39PM
Since 54 members will decide how from four to eight million dollars will be split up I would say that the Nickerbocker YC's membership problems will soon be behind them.
ray goodman Feb 15th 2009 10:14PM
My oh my.... What will miffy and chawlse do.... Oh, might they use public launches....
Richard Feb 15th 2009 10:16PM
You think people of have lost their jobs, homes, car and go through each day struggling to feed the kids and keep shoes on their feet--and praying that no illness hits because there is no insurance...you think these people give a rats ass about this news?????
Hedy Feb 16th 2009 3:39AM
I totally agree...These "clubs" certainly have value...but are old relics of exclusion and snobbery...This one isn't but many have had a history of anti-semitism and race exclusion.Hedy
Guy Jones Feb 15th 2009 10:24PM
I know Obama and his minions are just giddy with this kind of news. The worse the economy gets the better for them and their socialist stooges;i.e., Obama voters. I just dumped all my stock.
john paul Feb 15th 2009 11:42PM
socialisim is just what this nation needs, the sooner, the better. this mess could"nt get much worse than it is. sweden, england, holland, canada, all have better health care for all. our form of goverment is outdated and broken.
Obama Voter LOL Feb 16th 2009 12:54AM
Say, Guy, if you were an educated Obama voter, you would have dumped your stock long ago. The economic malaise was evident last March with Bear Stearns. Smart money evacuated at that time....
Shame to see old institutions go by the wayside. Chaz and Muff can come stay with me. I have plenty of dock space.
John Feb 16th 2009 1:27AM
Sad but it has to do with the restructuring of Wall Street. So the rich are not so rich. They are forced to prioritize their life. Golfing memberships are down, Country club memberships are down along the Long Island Sound it is where they go to play tennis and swim in the pool and the Long Island Sound if they are feeling brave with all the raw sewage. Oh what a cess pool all of the Madoffs have made.
Renee Feb 16th 2009 1:53AM
It's the people that serve those at the yacht club that are losing out, just as those that are members. Whether it's "family" money, "new" money or what have you, it's what keeps the rest of us paid to provide for our families. The members lose out because of sentimentality & a place where they could go to "hobnob" with those that had or made like money. Sailing isn't my thing but, I know it's not cheap to purchase one. Christensen Yachts here in WA are known for their high quality sailing vessels & yachts. SO, this does not only effect one aspect of people, it will effect many. Things economically need a change nationally. As far as the environment one person mentioned, that also needs a change nationally. America was/is built on dreams...if one dreams of owning a yacht & belonging to a yacht club, especially one long established, this is an institution that will most likely be missed. I don't know the income of those that belong to the yacht club but, certainly one of them has 4-8 million or access to that amount. Even with the recession the property & owning a long standing institution would seem like a good investment. But, then that's probably why I'm not in the market for property of that value. Just a thought....
Susan Feb 16th 2009 2:39AM
oh, bo- hoo- hoo, Lovey!!! Whatever shall we DO this yacht season, sweets???
the vegas style guy Feb 18th 2009 9:26PM
I am constantly amazed by the Obama Haters who seem to not understand that every issue this man is dealing with was hand delivered to him by outgoing Republican Administration.
Your dumped stock was made worthless quite sometime ago by the Socialist Bush administrations and its fellow Robber Baron supporters.