The board members of The Loft, the famed invite-only party started by DJ and nightlife veteran David Mancuso, have been accused of theft and financial misconduct in a report by Resident Advisor. David Mancuso’s nephew and estate administrator, Richard Horstman II, has spoken out against the long-standing board members citing “internal frictions” over recent years.
Horstman II alleges that after Mancuso’s passing in 2016, board member Douglas Sherman took over the ownership of The Loft and tried to appoint himself musical director. He also alleged that Sherman ignored the wishes of both the board and David, and registered a rival company under his name, The Loft Party NYC LLC, in 2022.
According to Mancuso’s nephew, Sherman became the chair of The Loft Party NYC LLC entity instead of DJ and board member Colleen ‘Cosmo’ Murphy, whom Mancuso had asked to succeed him as the chair of the board after his death.
Horstman II also alleges that the “majority of funds” were withdrawn from The Loft’s bank account and that the same board members illegally took Mancuso’s possessions, including audio equipment, records, and personal items, all of which is owned by Mancuso’s family.
The Loft was the centre of an exhibition by the Museum of Modern Art (MoMA) on June 2 celebrating 40 years since Mancuso’s famous Loft party on June 2, 1984, at 99 Prince Street in New York. Horstman II told Resident Advisor that they hope to one day restore their uncle David’s vision of The Loft as a safe space with integrity for all. David Mancuso’s distinctive musical style and love of vinyl and high-fidelity audio made his party, The Loft, a sensation in New York after its launch in 1970
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