Pride ribbons are scheduled to be unveiled next month at the Ritz Bar & Lounge, one of Hell's Kitchen's oldest gay bars, but it will likely be for the last time as the establishment is for sale.
The entire four-story building housing the bar on Restaurant Row (West 46th Street between Eighth and Ninth Avenues) is on the market for $6.5 million through Serhant, the celebrity real estate firm headed by reality TV fame Ryan Serhant. The sales process kicked off with an open house at the club this past weekend.
The building and bar are currently co-owned by Tommy Greco and business partner Jimmy Glenn, who are exploring the possibility of staying on as commercial tenants and bar owners. Greco said they're “looking far and wide” to see what opportunities arise.
“If they want to buy the business or buy the building or both, we're open to it,” he said. “It depends on who's coming in. If they want to keep us as a commercial tenant or have free use of the building, we're open to that.”
But with Pride Month approaching, it will be business as usual. “We're putting up the ribbon next week, and it will probably be our last Pride here,” Greco said. “Not only is this building a club for me and my business partner Jimmy, it's also our home. So it's not like we've had tenants. It's my apartment and it's his apartment. My suits are still hanging in the closet and my first child was born there.”
Greco, who recently closed his neighborhood steakhouse, K Rico, after nearly a decade in business, was 29 when he opened the Ritz nearly 20 years ago in a space that once housed a comedy club. A straight man, he recalled in a recent interview that initially “the other tenants in the restaurant district were freaked out when they found out this was going to be a gay bar,” but later said, “It was amazing how quickly they changed their attitude when suddenly hundreds of beautiful, wealthy gay men were coming to my restaurant before they went to the Ritz.”
A more solemn remembrance of the Ritz was the backdrop to a candlelight vigil held for Julio Ramirez in June 2022. Ramirez was last seen leaving a bar before his death.
The sale marks a life-changing moment for Serhant Commercial managing director Bernadette Brennan, who helped owner Greco open the Ritz 20 years ago while working in the entertainment industry.
“There are a couple of buyers out there right now who are interested in purchasing it because they're attracted to the heritage and the symbolism of the hotel,” Brennan told W42ST. “It remains to be seen what will ultimately happen, whether it's going to be a Ritz or a new version or something new that someone has in mind.”
The property, which Brennan describes as “a piece of New York history,” totals 4,709 square feet and contains two “free market housing units.” The listing describes it as a “unique investment opportunity.” [that] “This is a rare property that combines residential and commercial potential in one of Manhattan's most dynamic neighborhoods.”
The Ritz has two dance floors, three bars, a cabaret license and a 4am liquor license, and has hosted many A-list celebrities over the years, including Lady Gaga, Madonna, Christina Aguilera and Andy Cohen.
The sale kicked off with an open house last week, and “we've had a lot of big names in the industry talking to us who are looking to buy,” Brennan said.
Also, in the past Million Dollar Listing: New YorkHe'll be helming an upcoming real estate series for Netflix. Owning ManhattanAs the New York Post reported, it's a “glimpse into the glamorous, adrenaline-fueled world of high-value New York City real estate deals.”
Several Hell's Kitchen properties could feature on the show, including the building at 589 11th Avenue that has housed McQuay's Pub since 1996 but was sold by Serhant. There's also a chance the Ritz could be featured, Brennan said.
