Ricochet Miami Closed, Being Sold to the Owners of Baru Urbano

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"For me," Ricochet mastermind Alan Roth tells Crossfade, "the nightlife business has been an incredible ride.

"What I've been able to see and do and the life it's given me, I'm grateful," he says. "I've been able to buy the houses that I own because of nightlife."

But now he's getting out of the club biz. His latest venture, Ricochet, closed this week. And the space is being sold to the owners of Brickell and Doral's Baru Urbano.

See also:

-Space Miami Sold to "Group of Investors, Led by Roman Jones and Justin Levine"

-DJ Shadow Snubs Miami With 2013 Tour at "Venues Who Value Music Over Bottle Service"

-Ricochet Miami's Alan Roth on First Anniversary: "She's Just Getting Started, She's Just Starting to Crawl"

"I left my home with just $500 when I was 18 years old," Roth remembers. "I had nothing. And I believe I've been able to accomplish a lot. And it's because of the nightlife world. Because I didn't go to college. I don't have a law degree.

"It's a good time for me to leave, though," he admits. "And I may still play around with club life. But it was around Christmastime when I made a conscious decision that I didn't want to do this anymore. I just didn't want to be in the nightlife grind."

"The month of January was actually my 20th anniversary of being in nightlife," Roth laughs. "I'm 38 years old. I did my first party when I was 18 years old. And if I keep doing this, the next thing I know, I'm going to be 48, then 58. It's like, when does it end?

"I felt that meant I needed to sell Ricochet. So I started putting feelers out. And I had about five or six strong conversations with serious potential buyers.

"But the group of guys who own Baru Urbano, they really like Midtown," he tells Crossfade. "And they are the ones purchasing the place from me."

So ultimately, Roth insists, the decision to close Ricochet was a personal choice, not a business decision. "It had everything to do with a life change," the club veteran says. "If a person came by on Saturday, they would've asked," he laughs, "'Why the hell is this guy selling?'"

Follow Crossfade on Facebook and Twitter @Crossfade_SFL.

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