It was a drizzly November morning: perfect weather for picking over a carcass. The remains in question were the Jerry Lewis Monastery, as the Friars Club’s home on East Fifty-fifth Street is formally known. But with the club having defaulted, last year, on what was originally a thirteen-million-dollar mortgage, the six-story town house had gone into foreclosure and was now up for auction. A cluster of real-estate professionals and hospitality-industry types had gathered out front for a tour.
The Friars, founded, in 1904, as a club for press agents and performers, eventually gained fame for its large membership of comedians, among them Milton Berle, Buddy Hackett, Shecky Greene, and, more recently, Gilbert Gottfried and Jimmy Fallon; Lucille Ball and Phyllis Diller were among the first female members, admitted in 1988.…