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Woodcrest: The tale of one club's battle to survive
The Woodcrest Club in Syosset had about 300 members this summer; now it's down to about 160, its rolls eaten by nearby clubs.
Woodcrest had been one of the strongest clubs, with $3 million to $4 million per year coming in just from dues. But in 2006 it got a $6.2-million mortgage refinance and borrowed $1 million on top of that.
Then the economy tanked, and so did some of the club's...
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