Skyline350 Posted January 3 Report Share Posted January 3 May not be new info, but I just found out about it. Quote Link to comment Share on other sites More sharing options...
Guest MIAMIROCKSTAR Posted January 3 Report Share Posted January 3 Its old its been for sale for a long time at that price i saw it awhile ago on majestic property's. Quote Link to comment Share on other sites More sharing options...
Guest JustDade Posted January 3 Report Share Posted January 3 They paid less than $2 Million for the property. The business is worth $0. The best they could hope to get for that place is $4 Million and they have a $4 Million mortgage. So his best option is to sell it and walk away with nothing......not bad for an investment of over $14 Million. Quote Link to comment Share on other sites More sharing options...
Guest tres-b Posted January 3 Report Share Posted January 3 When you look at any business deal, you have to ask "What is it worth?"As a seller you have to understand that the deal may be worth less than you spent. At that point, you make the best deal you can and cut your losses. Quote Link to comment Share on other sites More sharing options...
Guest ICON Posted January 3 Report Share Posted January 3 how that place was made for $14 million is beyond me... i think the place is a fucking shithole. Quote Link to comment Share on other sites More sharing options...
Guest Mr. Negativity Posted January 3 Report Share Posted January 3 Ahhhhhhhhh... chump change! Quote Link to comment Share on other sites More sharing options...
Guest joeyaz Posted January 4 Report Share Posted January 4 Well It's a good thing that SPACE is now open for Friday After-Hours, because as soon as they sell Nocturnal all those friday night people are coming right next door.... Quote Link to comment Share on other sites More sharing options...
Guest Autobot Posted January 4 Report Share Posted January 4 They paid less than $2 Million for the property. The business is worth $0. The best they could hope to get for that place is $4 Million and they have a $4 Million mortgage. So his best option is to sell it and walk away with nothing......not bad for an investment of over $14 Million.They bought it for $910,000.... and I am sure you have absolutely no idea how much the building is worth.....:-) Quote Link to comment Share on other sites More sharing options...
Guest Autobot Posted January 4 Report Share Posted January 4 cb Quote Link to comment Share on other sites More sharing options...
Guest JustDade Posted January 4 Report Share Posted January 4 Well It's a good thing that SPACE is now open for Friday After-Hours, because as soon as they sell Nocturnal all those friday night people are coming right next door....I've always said that there are plenty of idiots out there who want to get into the club biz in Miami.....BUT.....it may be a stretch to find one stupid enough to buy Nocturnal.They need to do something because they got a "bridge" loan to avoid the forclosure and that loan gets called soon, (if not already). The idea was to get re-financed and pay the bridge-loan back but nobody wants to re-fi that douchebag. From what I hear, MCI is also very close to an enforcement action on a $2,000,000 + judgement so we can expect more moving truck drama soon as well. Quote Link to comment Share on other sites More sharing options...
Guest JessieRabbit Posted January 4 Report Share Posted January 4 how that place was made for $14 million is beyond me... i think the place is a fucking shithole.WHATTTTT!!!!!!! Quote Link to comment Share on other sites More sharing options...
Guest JustDade Posted January 4 Report Share Posted January 4 They bought it for $910,000.... and I am sure you have absolutely no idea how much the building is worth.....:-)Wrong, Batman. They bought it for just under $2,000,000 but the paperwork was done for $910,000 for shady tax reasons. And...it's worth exactly what someone will pay for it, which is far less than the $7,000,000 they're asking. Quote Link to comment Share on other sites More sharing options...
Guest coach Posted January 4 Report Share Posted January 4 Wrong, Batman. They bought it for just under $2,000,000 but the paperwork was done for $910,000 for shady tax reasons. And...it's worth exactly what someone will pay for it, which is far less than the $7,000,000 they're asking.I bet they could get that, or nearly that, out of one of those condo developers. Well, maybe not anymore, but I bet they could have a year ago. Quote Link to comment Share on other sites More sharing options...
Guest JustDade Posted January 5 Report Share Posted January 5 I bet they could get that, or nearly that, out of one of those condo developers. Well, maybe not anymore, but I bet they could have a year ago.Recent appraisal puts the value of the building/property/contents at around $4,000,000. Are you saying that you think the business is worth $3,000,000? Sounds a lot crazy to me. Quote Link to comment Share on other sites More sharing options...
Guest tilt Posted January 5 Report Share Posted January 5 Right off majestic's pageWe just listed a night club located at 50 NE 11th St, in the Miami Entertainment District. The Club name is NOCTURNAL. The property is being sold with the club operating. The property owner is also the Club owner. The price is $7,000,000.00. That includes the land, structure, corporation, liquor license, and everything inside the club, i.e. all furniture, equipment etc. The lot size is 6,226 sq ft. The building is new construction, two-story, with a rooftop lounge and basement, totaling apporximately 20,000 sq ft. For more information please contact Marcela Criscito at 305.467.4557.BRING ALL OFFERS!!! OWNER IS VERY MOTIVATED!!WOWSo much bull shit! Too bad maybe the next owner will turn that into a major parking lot Quote Link to comment Share on other sites More sharing options...
Guest ICON Posted January 6 Report Share Posted January 6 WHATTTTT!!!!!!! here.. i'll say it a little louder for you.....how that place was made for $14 million is beyond me... i think the place is a fucking shithole.The last several times I have been there.... the place was fucking disgusting and dirty - filthy... Their patio felt like an outside crackhouse. The place is NOT all that nice, especially $14 million dollars nice. Quote Link to comment Share on other sites More sharing options...
Guest JustDade Posted January 6 Report Share Posted January 6 here.. i'll say it a little louder for you.....how that place was made for $14 million is beyond me... i think the place is a fucking shithole.The last several times I have been there.... the place was fucking disgusting and dirty - filthy... Their patio felt like an outside crackhouse. The place is NOT all that nice, especially $14 million dollars nice.When a club is failing, (and this place has been failing for a while), one of the the first things to go is the maintenance. That place was state-of-the-art when it was built but if you don't take care of it....The sound was insane at one time. The guys who put it in stopped taking care of it years ago because they were tired of the checks bouncing. The same with the guy who did all the lighting. Almost everything else there is the same story.The guy who owns it is a piece of work. They have judgements against them for millions of dollars. They have a bridge-loan being called. They have no re-fi options. Do you really think they're going to worry about cleaning the place? Quote Link to comment Share on other sites More sharing options...
Guest ICON Posted January 6 Report Share Posted January 6 When a club is failing, (and this place has been failing for a while), one of the the first things to go is the maintenance. That place was state-of-the-art when it was built but if you don't take care of it....The sound was insane at one time. The guys who put it in stopped taking care of it years ago because they were tired of the checks bouncing. The same with the guy who did all the lighting. Almost everything else there is the same story.The guy who owns it is a piece of work. They have judgements against them for millions of dollars. They have a bridge-loan being called. They have no re-fi options. Do you really think they're going to worry about cleaning the place?which is why i called it a shithole. Quote Link to comment Share on other sites More sharing options...
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