Jay-Z’s 40/40 Club in New York Closes After 20 Years – Report
Jay-Z‘s 40/40 Club New York City location has reportedly closed its doors after two decades in operation.
Jay-Z’s 40/40 Club in New York Closes After 20 Years
After opening the flagship location in the Flatiron District in Manhattan, N.Y. two decades ago, the location is now closed, according to a report published by New York Eater on Wednesday (Aug. 9). The location ceased operations at the end of July. However, there are plans to open another location in NYC next year.
XXL has reached out to 40/40 Club for comment.
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Jay-Z’s 40/40 Club Chain
Jay-Z opened the first of what would be multiple 40/40 Club locations back in 2003. He added locations in Atlantic City, N.J. (2005), Las Vegas (2007), the Barclays Center in Brooklyn, N.Y. (2012) and Atlanta (2014). In 2011, the New York location closed down for a $10 million renovation and reopened the following year. The Las Vegas location closed only a year after opening in 2008. The Atlantic City club ceased operation in 2013.
Over the years, the New York City location has faced multiple issues. In 2011, the restaurant was called out for not meeting labor standards. In 2012, they were sued by a former chef for $1.5 million. The same year, it was shut down briefly for health code violations.
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Jay-Z’s Other Business Ventures
The club chain is just one of the business ventures and investments that have helped balloon Jay-Z’s net worth to $2.5 billion including his investments in liquor, his fine art collection and holding shares in service companies like car-sharing service Uber and finance company Block.