The club was founded as the Princeton Alumni Association of New York in 1866. In 1886, it reorganized as the Princeton Club of New York, incorporating as a club under New York laws on December 12, 1899. Unlike other alumni clubs on Clubhouse Row, the organization had no financial relation to
Princeton University. The clubhouse was located on Clubhouse Row, where many of New York City's other clubs are located. The club closed in March 2020 during the early days of the
COVID-19 pandemic and never fully reopened, losing approximately one-third of its fees-paying members during the initial year of closure. In October 2021, the club defaulted on $39.3 million in mortgage debt from lender
Sterling National Bank. In December 2021, 15 West 43rd Street LLC purchased the defaulted loan from Sterling and in June 2022 the LLC sued to foreclose on the property. 15 West 43rd Street LLC, a
shell company, bought the building in December 2023 for $8 million and placed it for sale in early 2025. The clubhouse's owner at the time was the billionaire
John Paulson. The
Columbia University Club of New York was in residence at the Princeton Club from 1998 to 2017, when it left to become in-residence at
The Penn Club at
30 West 44th Street. Similarly, the in-residence
Williams Club also moved to the Penn Club of New York in March 2022 following the closure of the Princeton Club. ==Amenities==