Maybe it’s the specter of Taylor Swift and Matt Healy’s ill-fated and controversial date there or the fact that it’s a relatively new fixture in the city, but NYC’s Casa Cipriani is going through some growing pains. The members-only social club was established in 2021 as another exclusive locale for the wealthy to rub elbows. Costing nearly $4,000 per year with what a spokesperson says is a 4,000-person waitlist, it’s attracted the likes of Drew Barrymore, John Legend, and Taylor Swift—until she reportedly canceled her membership there after fans took photos of her.

It’s one of six members-only clubs that opened or announced plans to open in the city between 2021 and 2022, joining the ranks of the well-established Soho House and the newer Zero Bond. Private clubs have been a staple of the New York City social scene since the 19th century, originally modeled off of London’s gentlemen’s clubs. Today, they’re a place where old and new money mix and flaunt their feathers, often filled with aspiring 20-and 30-somethings who are paying a hefty price tag for access to parties, networking, and amenities like pools. The allure: exclusivity. It’s all become a big business, not just in NYC: the 3,500 private clubs across the U.S. generate at least $1 million in revenue each, per data service Club Benchmarking. And National Club Association data finds they contribute $21.5 billion to the U.S. economy annually.

While it seemed that New York City might see the demise of the social club when the pandemic first hit, Vanity Fair reports they’ve been stronger than ever. That’s because private clubs offered safety and privacy, and served as a place to work remotely and maintain friendships following the isolation of lockdown, experts told Barron .

Many of New York’s social clubs are designed to appeal to a more nouveau riche clientele, but Casa Cipriani tries to set itself apart by with old money-like vibes (a smart tactic given that Gen Z is drawn to this aesthetic). Most things about the club read intentionally Gatsby-esque, almost masquerading as a fixture of old-school New York despite being only two years old. But it’s also unintentionally set itself apart by becoming part of the rumor mill, appearing in tabloid fodder for everything from its shifting clientele to its celebrity date nights.

Here’s what you need to know about Casa Cipriani.

What is Casa Cipriani?

The Cipriani name in New York is well-known, dating back to 1985 when chef and patriarch Giuseppe Cipriani opened Harry’s Cipriani following the success of his father’s restaurant, Harry’s Bar, in Venice, Italy. The New York establishment, which became home to A-listers like Diane von Furstenberg and Sean Connery, put the Cipriani name on the map as it grew into a global luxury restaurant and hospitality chain.

Nearly 40 years later, Giuseppe’s great–grandson and Cipriani’s New York-based president Maggio Cipriani led the creation of Casa Cipriani, a social club and luxury hotel in lower Manhattan. “There’s a huge void in the marketplace for membership clubs,” Maggio Cipriani told the Wall Street Journal in 2020.

While anyone can book the hotel (for an average of a bit more than $700 a night), you have to pay $3,900 a year, plus a $2,000 initiation fee to enjoy the social club (there’s also a junior discount and global membership options for those who wish to visit the Milan location). Those who do get first pickings of the 47 rooms and suites at the hotel.

The club, according to its website—which greets you with the slogan “Where heritage meets style”—has a restaurant, Jazz Café, bars and lounges, plus ample outdoor space in the form of terraces and a rooftop for classic NYC skyline views.

What does Casa Cipriani look like inside?

A quick scroll through Casa Cipriani’s Instagram page, which has upwards of 35,000 followers, shows a mix of carefully curated images of gleaming bars and black-and-white photos of 1950s stars and celebrities like Frank Sinatra and Ava Gardner. It’s an ode to old-school New York.

Inside Casa Cipriani, which is inspired by Harry’s Bar, you’ll find zebra-printed furniture, wood-paneled opulence, and an Ashton Martin propped out front. The bar faces the river, where you can listen to jazz and possibly pretend to be a Golden Age era star like Broad City’s Abbi Jacobs. Bon Appétit’s Sam Stone explored the club, noting a floor inlaid with a shuffleboard court, waiters wearing white jackets, a black marble bathroom, and menus that neglected to the list the price of its white pastas, black truffle pizza, and the rest of its Italian fare.

Her companion called it “a cross between the Titanic and The Sopranos,” she wrote. That’s in part the vision of architect and designer Thierry Despont, who has designed other high-name projects, including The Ritz in Paris and Claridge’s in London. He wanted to evoke a “vintage luxury ocean liner” feel, according to Condé Nast.

It fits with the Cipriani DNA. Casa Cipriani lives inside the Battery Maritime building built in 1909, the last remnant of the old ferry terminals. The structure went through many failed development phases until today, the Journal reported. Owned by Midtown Equities, Centaur Properties, and Cipriani S.A., the group was able to secure a refinancing deal worth $100 million for development.

Who is a member of Casa Cipriani?

Casa Cipriani attracts the obvious New Yorker HENRY—high earners, not rich yet—crowd. There are a lot of business people.

“No one is really here to have fun. They’re here to be funded,” writes Christie Grimm a bit snarkily for Guest of the Guest, an outlet about high society co-founded by one of the Winklevoss twins.

Stone, the Bon Appétit writer, noted many young men in khakis and sports jackets who looked like they came from prestigious universities. She wrote that her friend found the crowd “ostentatious and obnoxious” and that it often becomes crowded with “wealthy housewives in for the night from Long Island wearing gowns and tiaras.” But it can be a good place to work during the day, the friend acknowledged.

Casa Cipriani has also seen quite a few famous faces. Alicia Keyes, Blake Lively, and Ryan Reynolds have all been spotted there. The club has a no-pics policy, making it a safe space for celebs—but some members were reportedly ousted for taking photos of Taylor Swift there on her date with Matty Healy. Sources told the tabloids she canceled her membership after one of the photos was leaked and that Casa Cipriani is trying to “clean up” with “cooler clientele.”

A spokesperson from Cipriani denied the allegations. “We pride ourselves on the privacy of our community and do not comment on false accusations,” they told Fortune, adding that the club is in high demand.

If you have time and a couple grand to shell out annually, you can find out for yourself what really lies in Cipriani’s latest venture. Until then, we’ll have to take everyone else’s word for it.