The glitzy event featured a tower of 350 Armand de Brignac champagne bottles.
The reception, which cost $40,000 a ticket, drew in about 100 people including the guest of honor.
President Obama greeting Jay-Z and Beyonce during a campaign fundraiser at 40/40 club.
Champagne tower at club 40/40
The fashionable powerhouse crowd sat on sofas during the event and the 40/40 Club decor featured an 18-foot tower of 350 gold Armand de Brignac French champagne bottles, Jay's favorite, that cost $800 per bottle.
outside club 40/40