Eric Schmidt Emerges as White Knight for NYC’s Princeton Club

Billionaire former Google CEO bids on club’s mortgage debt
Midtown club could get modernized with capital infusion

The Princeton Club in New York.Photographer: Patrick McMullan/Patrick McMullan/Getty Images

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Matthew Boyle

November 23, 2021 at 5:50 PM UTC

This article is for subscribers only.

The Princeton Club of New York, facing foreclosure after defaulting on nearly $40 million in mortgage debt, may have found a savior in billionaire Eric Schmidt.

Schmidt, a Princeton graduate who’s donated tens of millions to the Ivy League school, has bid on the club’s loan through his family’s investment office, according to people familiar with the situation.