101, a members-only lounge from the owner of Tinsel, debuts in Center City

A new speakeasy opened this weekend in Center City, and you’ll have to apply for a spot to get in.

Teddy Sourias’ Craft Concepts Group — the hospitality company behind popular Center City bars like Tinsel, Tradesman’s, and U-Bahn — debuted a members-only lounge last weekend at an undisclosed location downtown. The 85-seat space, 101, is anchored by a 1906 bank vault and is aimed at “Philly’s top movers and shakers,” according to its website.

Official details are few. Sourias said he wanted to keep tight wraps on the new space and declined to elaborate on the location or provide photos. The lounge will serve caviar and french fries, as well as classic and contemporary cocktails.

The Philadelphia Business Journal first reported 101′s opening. Concierge Sarah Frank told PBJ the lounge’s target audience will be “offline influencers ... doctors, lawyers, health care, finance people that have made an impact and are very ambitious and very focused on their careers.” The membership application includes questions about one’s occupation, zip code, income, and drink of choice.

Annual membership will start at $1,000, allowing access to the space and invitations to quarterly dinners. For double that amount, “prime” members will have access to concierge services, according to the PBJ story. That puts it well under the cost to join the Union League (between $2,000 and $6,000 a year, plus a hefty initiation fee), closer to the Fitler Club (between $2,000 and $5,000), but far more than Palizzi Social Club’s $20 a year.

About 500 members will initially be accepted, a goal Craft Concepts is close to hitting, Sourias said. He anticipates the bar will admit more people as time goes on. Members are allowed up to three guests but must make reservations.

“The goal is not to saturate the space. We want every member to feel comfortable,” he said.