<PAGE>

                                      10.72

                 FIRST AMENDMENT TO LEASE BETWEEN REGISTRANT AND
                 CLUB AT 60TH STREET, INC. DATED MARCH 1, 2002




                                       -7-

<PAGE>

                            FIRST AMENDMENT TO LEASE

This FIRST AMENDMENT TO LEASE is made and entered into March 1, 2002 by and
among THE SPORTS CLUB COMPANY, INC. ("Landlord") and CLUB AT 60TH, INC., a New
York corporation ("Tenant"), with reference to the following recitals:

RECITALS:

     A.   WHEREAS, Landlord and Tenant entered into that certain Lease dated as
          of July 28, 2001 ("Lease"), wherein Tenant leased from Landlord
          premises commonly known as the basement floor space of the building
          designated as 333 East 60th Street, New York, New York, and more
          particularly described in the Lease;

     B.   WHEREAS, Tenant has been requested to delay the commencement date and
          has agreed to do so to allow Landlord to settle litigation with
          "Scores";

     C.   WHEREAS, to compensate Tenant for the aforementioned delay, Landlord
          and Tenant desire to amend the Lease as more particularly set forth
          below.

        NOW, THEREFORE, in consideration of the mutual covenants made herein and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant hereby agree as follows:

     1.   DEFINITIONS. All terms defined in the Lease shall have the same
          meaning when used in this Amendment, unless otherwise specified.

     2.   REFERENCES TO LEASE. Unless the context requires otherwise, all
          references to the "Lease" in the Lease shall hereafter be deemed to
          mean the Lease as amended by this Amendment.

     3.   OPTION TO RENEW. All references in paragraphs 1.9 and 3.3 to two
          consecutive five (5) year options shall be deleted and replaced with
          three consecutive options, the first two options for five (5) years
          each and the third for seven (7) years. Such renewal options shall be
          on the same terms and conditions set forth in the Lease, save and
          except the right of further renewal and the annual rental rate.

     4.   MINIMUM RENT DURING OPTION TERMS. The Minimum Rent during the third
          Option Terms shall be:

<TABLE>
<CAPTION>

--------------------------------------------------------------------------------
               MONTHS OF TERM                          MINIMUM RENT PER MONTH
--------------------------------------------------------------------------------
         <S>                                           <C>
         Month 241 through Month 300                          $183,012.50
--------------------------------------------------------------------------------
         Month 301 through Month 324                          $201,313.75
--------------------------------------------------------------------------------
</TABLE>

     5.   AUTHORIZATION. Each individual and entity executing this Amendment
          hereby represents and warrants that it has the capacity set forth on
          the signature pages hereof with the full power and authority to bind
          to the terms hereof the party on whose behalf it is executing this
          Amendment.

                                       -8-

<PAGE>

IN WITNESS WHEREOF, Landlord and Tenant have caused their duly authorized
representatives to execute this Amendment as of the date first written above.

LANDLORD:                                       THE SPORTS CLUB COMPANY, INC.


                                           By:  /s/ Timothy O'Brien

                                                ---------------------------
                                           Its: Chief Financial Officer

TENANT:                                         CLUB at 60th, INC.


                                           By:  /s/ Sheldon Andrens

                                                ---------------------------
                                           Its: President

                                       -9-