Every queen needs a palace, and soon Ocean Drive’s well-known drag queens will be looking for a new home when building renovations force The Palace Bar to relocate.
The iconic bar, nestled at the corner of 12th Street and Ocean Drive and known for its drag performances, announced the news on its Facebook page. The venue is not closing altogether, but it will look for a new location when the building’s owner begins renovations.
News: The Future of 1200 Ocean Drive and Palace Bar.
“At the moment, The Palace is in a state of transition,” reads the statement. “While we don’t know what our final date at this legendary location will be, we have begun to scout locations and will keep our friends, family and fans abreast of the latest shareable information.”
Over the past few decades, The Palace has grown into one of Ocean Drive’s most well-known businesses. The street sign at the corner and the crosswalk are decorated with rainbow colors, marking the space as a key South Beach landmark and meeting place for the LGBTQ community.
Last year, developer Steve Kassin’s Infinity Real Estate bought the building that houses the Palace, which also includes 31 residential units, for $15.25 million, according to the Real Deal. At the time, an executive for Infinity said the company planned to “enhance the property, including improving the building’s prominence and accessibility.”
The Palace management’s statement on Facebook, which attracted a long list of supportive comments, made clear that the location at 1200 Ocean Dr. may be undergoing changes, but the bar will take advantage of a venue change.
“The truth of the matter is that this situation presents us with a fantastic opportunity to grow,” reads the statement.