King of Diamonds (J. Albert Diaz)
A North Miami Beach gentlemen’s club known for its strippers’ flamboyant acrobatic performances and staged boxing matches has quietly sold to a mysterious New York venture, the Daily Business Review has learned.
King of Diamonds, a gentlemen’s club at 17800 NE 5th Ave. that caters largely to a male African-American clientele, sold for at least $6 million to New York-based KODRENYC LLC. The $6 million represents the price paid for the real estate at that site, a 60,622-square-foot box on a 4.75-acre triangle that’s jammed between an I-95 overpass and the Amtrak railroad. The going concern that runs the club was sold for an undisclosed sum to a different entity, Ak “n” Eli LLC, a person close to the transaction told DBR.
Both Ak “n” Eli and KODRENYC are managed by New York developer Elliott “Eli” Kunstlinger and financial services adviser Akiva “Ak” Feinsod. Neither men has experience running a gentlemen’s club, and are not listed as principals in any other Florida corporations. A different venture led by Feinsod is attempting to buy an African-American cultural center in Pittsburgh with plans to turn that landmark site into a hotel.
Both Kunstlinger and Feinsod declined to go into detail about the King of Diamonds acquisition, with Feinsod saying he was only a “small partner in the real estate part” of the deal and Kunstlinger saying “one of the companies that I’m part of is involved in it.”
Akinyele Adams, a former New York rapper, will run the club according to both Kunstliger and another person close to the deal. Adams has been involved in the club’s management since 2013. He did not return a call for comment left at the club.
King of Diamonds is considered one of the most outrageous strip clubs in Miami, a place immortalized in hip-hop culture where performers are pitted in a boxing ring for weekly fistfights and dancers are known to perform injury-defying acrobatic acts on the club’s poles. The location includes a men’s barber shop, auto detailing service and full-service spa, and is commonly name-checked by A-level rappers including Rick Ross, Drake, DJ Khaled, and Lil’ Wayne.
Professional boxer Floyd Mayweather is fond of the club, commonly celebrating there after fights by sitting his armored 10-wheeler “Money Truck” on the parking lot and conspicuously carting in suitcases full of dollar bills, according to the Miami New Times. Two days before being arrested for drag-racing down a residential street in Miami Beach, pop star Justin Bieber partied there, with club management telling a gossip site he requested $75,000 in dollar bills upon arrival.
The club last traded hands for $3.15 million in June 2002, when it was scooped up by Las Vegas nightclub impresario Jack Galardi. He died in 2012, and daughter Teri took over his business assets shortly afterward. Another Miami strip club owned by Galardi, Goldrush, was sold in 2012 and completely revamped. The family still owns yet another strip club in Doral, the Pink Pony, as well as a gay bar in Fort Lauderdale, the Cubby Hole. A message left with Galardi was not returned.