It means “dude” here, more or less. From my album of the week in the Sunday Times [£], a celebration of the troubadour Nathan “Prince” Nazaroff. Another joyous exercise in time travel from Smithsonian Folkways, and a lot less schmaltzy than “Fiddler on the Roof”:
In the mid-20th century, Yiddish music in America was generally relegated to lullabies, elegies, and folk songs that had been Americanized and presented in a watered-down, decorous style. Enter, then, the “Prince.” There is little information about Nazaroff other than that he may have immigrated to the U.S. in 1914, was of Jewish Russian descent, and was a self-described “big time” performer. Other than one photograph, few details about him or his life are known.