Mountain City Club at Chestnut and Eighth
The $9 million sale of the Mountain City Club at 729 Chestnut Club closed this week.
The venerable club, originally chartered in 1889, will be moving to leased space in the nearby Gilman Building, second floor.
Officials said no date has been set for the move.
Mark Schmissrauter, former club president, said, "The use of the Gillman space will allow for the club to stay in the same location area and gain the use of the Citi Park garage.
"The club will use the proceeds for investment mainly and some slight modifications of the present Gilman space."
The sale was to Ken and Byron DeFoor, who have been developing the West Village centered around the former BlueCross Gold Building.
The DeFoors own and have redeveloped the building at Eighth Street and Pine that formerly housed Gilman Paint Co.
The Mountain City Club was first located in a Samuel Patton designed building at the southeast corner of Seventh and Cherry Street before moving to a space in the old First National Bank building on Broad Street.
In 1904, the club moved into a second permanent clubhouse on Chestnut Street, where it would remain until its current location was constructed.
Club membership has been declining in recent years and the club faced financial difficulties.
The club has been renting out space for weddings and other events in order to capture additional income.