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1527 Washington Ave, Miami Beach, FL, 33139 | $9,000,000
Club Madonna – Iconic South Beach Property Now Offered for Sale
The home of the legendary Club Madonna, an iconic gentlemen’s club located in the heart of South Beach, is now being offered for sale for the first time in more than half a century.
Owned and operated by Leroy Griffith, a pioneer of the burlesque entertainment era, the property represents a rare and historic opportunity in one of the most famous nightlife destinations in the world. After decades of ownership, Mr. Griffith has elected to retire, creating a once-in-a-lifetime opportunity to establish the next generation of a globally recognized South Beach institution.
This offering includes the real estate that houses Club Madonna, which is uniquely significant as the only property in the City of Miami Beach where live adult entertainment is permitted under the City’s zoning code.
For decades, this celebrated venue has been the only live adult entertainment club on historic Miami Beach, drawing visitors from around the world.
The property consists of a 1948 two-story building, along with an adjacent structure of approximately 600+ square feet, presenting significant opportunities for modernization, expansion, and repositioning. With thoughtful redevelopment, the site has the potential to become one of the top-rated adult entertainment venues in the industry. This is a truly rare chance to acquire a landmark nightlife property in one of the most internationally recognized destinations in the United States.
Features
- Property Type: Business
- Zoning: 6400
- Acreage: 0.2
- Est. Taxes: $74,529
- MLS#: A11979747
- Days on Market: 39 days
- Website: https://www.raveis.com
/prop/A11979747/1527washingtonave_miamibeach_fl?source=qrflyer
Listing courtesy of Brickell Investment Realty Phone: 305-372-0114
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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305.922.5393
Pedro.Delgadillo@raveis.com
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
1527 Washington Ave, Miami Beach, FL, 33139
$9,000,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $7,200,000 | $7,200,000 | $7,200,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.125% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.312% | 6.235% | 6.164% |
| Monthly Tax Payment | $6,211 | $6,211 | $6,211 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $42,591 | $43,748 | $60,758 |
| Total Monthly Payment | $48,927 | $50,084 | $67,094 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388