King of Diamonds Landlords Sued for Foreclosure After Allegedly Defaulting on Mortgage Payments
Photo by Alex Markow

King of Diamonds Landlords Sued for Foreclosure After Allegedly Defaulting on Mortgage Payments

Hip-hop has turned Miami strip club King of Diamonds into a codeine-hazed Shangri-la where you're apt to run into superstars such as Drake, Lil Wayne, or Rick Ross casually lighting the club up on a Tuesday. King of Diamonds is, famously, the place where reality TV star Blac Chyna danced before she began dating rapper Tyga and, subsequently, Rob Kardashian.

But running a bar where musicians like Justin Bieber lay out $75,000 in cash might not actually be a sound business model: The club's landlord was sued last Monday for allegedly missing payments on its $5.3 million mortgage, and the neon-purple building is possibly facing foreclosure.

According to the lawsuit (which the South Florida Business Journal first reported), the landlord, Kodrenyc LLC, which has an address in Aventura, took over the mortgage of the infamous property just off I-95 at 179th Street in 2014. At the time, one of the club's founders, Disco Rick, told New Times he "put a deal together to keep King of Diamonds going" and sold the business for $6 million to Kodrenyc. The LLC entered into a $4 million mortgage that year.

In March 2017, $1.3 million in accrued and unpaid interest was added to the total. And now it looks like that deal might not have worked out as planned.

"Borrower defaulted on first loan payment on the Amended Note," says the suit, which was filed in Miami-Dade County court August 14. "Borrower is in default of its obligations by failing to make full monthly payments of principal and interest due May 1, 2017, and Loan payments thereafter." The suit says the strip club's landlord was first warned May 12 that it was defaulting on its mortgage. The plaintiff, a shell company called 17800 State Road 9 Lender LLC, is suing King of Diamonds' landlords for breach of contract, mortgage foreclosure, and other claims.

Though it's easy to celebrate KOD as a bastion of hip-hop culture, recent lawsuits suggest the club's dancers might not be treated all that well. Last year, strippers sued the club for unpaid wages and overtime.  

Miami-Dade County also sued the club last year for operating without a valid license and modifying the building without a proper permit.

A lawyer for the plaintiff, Jeffrey Wertman, did not immediately respond to a call from New Times. KOD's landlords do not have an attorney listed online. King of Diamonds did not respond to a phone message left at the club this afternoon.

Any sort of shutdown — temporary or permanent — would be a massive blow to Miami's hip-hop community. In 2014, New Times recounted the ten best King of Diamonds references in rap music: KOD has been name-dropped in hits that span from Juicy J's "Bandz a Make Her Dance" to 2 Chainz' "Wuda Cuda Shuda" to the major Drake hit "Miss Me," wherein he raps about flying Blac Chyna cross-country to dance for him.

Perhaps a few emergency infusions of Bieber cash are in order. Maybe someone should call him — or Floyd Mayweather, who once dropped $100,000 at the club in one night.

More recently, KOD played host to Lil Wayne and 2 Chainz, who filmed a video for their single "MFN Right" at the club. (Video linked above.)

Behind the scenes video shoot part 2 at the #KingofDiamonds with Lil Wayne & 2 Chainz.

A post shared by King Of Diamonds (@clubkodmiami) on

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