Cobalt is officially closing its doors, after the building that housed the Dupont gay nightclub was sold to a developer over the summer.

“With the combination of the sale of the buildings, the start of demolition, costly infrastructure repairs and upgrades that we would need to shoulder to remain open for the short remainder of our lease (without an opportunity to extend the lease) along with a slow decline in sales we decided it was the right time to close the business to focus on our other businesses and some personal family needs,” owner Eric Little announced in a Facebook post on Tuesday.

The 17th Street NW locale had been in business for about 20 years, and includes restaurant Level One, a lounge called 30degrees, and a dance floor. Cobalt’s lease was set to expire in March 2021, according to the Washington Blade.

The news came after rumors began circulating this week of Cobalt’s demise, along with photos of a sign on the door that said the club was “closed for water damage.”

“The gay bar industry has been changing over the past few years with the popularity of dating apps, changing social norms, and pop-up parties/events at non-gay venues and we applaud these evolutions as positive progress,” Little writes. Cobalt isn’t the only gay dance club in D.C. to shut its doors recently—Town Danceboutique closed over the summer after a developer purchased the building, which will be turned into an apartment complex.

The building that housed Cobalt will similarly be converted into residential units, according to Little, who writes that “we wish the new building owners and future residents the best of success and hope that the buildings will bring them all as much joy and happiness as it has brought the entire Cobalt family.”