The Real Deal Miami

Nocturnal nightclub unloaded by lender

May 22, 2012 10:30AM

Seattle-based Avatar Income Fund has sold Miami nightclub Nocturnal for $1.6 million, the South Florida Business Journal reported. The price represented a 58 percent discount off of its $3.8 million mortgage. The space was purchased by a Boca Raton-based limited liability company called 50 NE 11th Street. Avatar was represented by Sperry Van Ness. [SFBJ]