The old and new guard have been at war at the swanky River House since the East Side co-op’s board revealed it’s seeking $130 million by selling off the building’s private River Club. (The club rented its space for years, but its lease is ending.)
Some see the move to sell as the end of an era.
“The board is going against the long-held traditions of River House,” sniffed a resident. “The majority feel it gives value to their lives.”
Brown Harris Stevens has already been showing the space and there’s “a lot of activity,” we hear. Designer Tony Ingrao has re-imagined it in renderings as an eight-bedroom mansion.
A source close to the board argues, “All that money would be poured into the building. It’s not like the board’s just a bunch of money-grubbing yahoos!”
Meantime, club head Charles G. Berry sent a letter to members that all hope isn’t lost: “Contrary to what many understood . . . discussions between the club and the River House . . . have not failed but are very much ongoing.”
Chairman John Allison commented, “The board is going through a process, which includes continuing its talks with River Club and simultaneously following its fiduciary duty to find a market price for an alternative use of the space — a process whose purpose is for the benefit of the River House.”