Miami Beach nightclub building could be seized in $3.5M foreclosure

A Miami Beach entertainment venue that was previously home of the Treehouse nightclub has been targeted in a $3.45 million foreclosure lawsuit.

California-based NuBridge Commercial Lending filed a foreclosure complaint on April 19 against 323 SoBe LLC and Michael Freundlich. It concerns the 4,362-square-foot club building at 323 23rd St., a few blocks north of Collins Park.

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The $3.45 million loan was originated by Versus Capital Corp. in 2022 and carried a 9.99% interest rate. According to the lawsuit, the borrower failed to repay the loan by the Aug. 1, 2023 maturity date and owes $3.45 million in principal, plus interest and fees. The loan was later assigned to NuBridge.

Attorney Matthew B. Leider, who represents the lender in the lawsuit, couldn’t be reached for comment.

In February, 323 Sobe LLC won a $1.27 million judgment against Modern International Realty over a real estate sales and marketing agreement that didn’t result in a successful sale of the property. Arthur Vincent, the attorney who represented 323 SoBe in that case, declined to comment on the new foreclosure case.

Modern International Realty filed a motion on March 20 to vacate that judgment, claiming its executive was not properly notified of the lawsuit and didn’t have an opportunity to respond.

The entertainment venue was built on the 8,890-square-foot site in 1925. It last traded for $3.25 million in 2015.

According to an article in August 2023 from the Miami New Times, the Treehouse nightclub at that address closed on Aug. 4 after 12 years in business. The story identified Freundlich as the owner and operator of the club.

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