Penrod's has shed its frat-house décor of neon beer signs and emerged as a refined spot on Mondays for those "in the industry" (acting, fashion, modeling) and those who enjoy watching those in the industry. The credit goes to two young promoters, Ted and Linley (to maintain a fashionable mystique, both declined to divulge their last names), who ran the funky Lincoln Road bar the Beehive. They closed that project this past fall and in November re-formed the Beehive into a one-nighter inside this well-worn South Beach club. "We had to do a lot of work," Ted says. "Basically I had to get rid of everything that reminded me of spring break." The mostly open-air beach-side site lends itself to a kind of rustic elegance. Now the genetically blessed flock here, attracted by the laid-back, sand-in-your-shoes atmosphere. Along with the finest from Elite and Ford, Al Pacino, Cameron Diaz, and Oliver Stone have stopped by to quaff a few. "The models like it here because they can wear their flip-flops," Ted explains, adding that the earthiness helps keep away urban predators. "There aren't a bunch of 50-year-old European men flashing wads of bills trying to hit on them."