Maxwell's Closing: NJ Venue Where Nirvana, Yo La Tengo Performed to Close Its Doors (VIDEO)

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(Photo: Reuters/File)Kurt Cobain, late frontman of grunge group Nirvana, standing in an undated photo.

Maxwell's is closing down. The famous club in Hoboken, New Jersey will finally close to business after 35 years of serving the local community.

The iconic club opened in 1978 and has become one of the most recognizable landmarks in New Jersey in recent decades – featuring top bands such as Nirvana and Yo La Tengo.

People have been known to come from all over the East Coast of the United States to the venue, which has been one of the top hangout spots in Hudson County.

However, despite the amazing history behind the venue it will close its doors to business in July after nearly four decades of service.

Maxwell's lease is reported to be ending in July, and according to the New Jersey Star Ledger, the club's owner, Todd Abramson, has decided to shut down due to "the changing nature of Hoboken and the difficulties of trying to run a business in this town."

The owner was offered a renewal of the lease, and he admits that he was offered rates that were not "onerous," but he has decided that now is the right time to call it quits.

Abramson has said that he plans a big farewell by bringing in the "a's" for one final performance – they were the first act to ever play at the venue.

Richard Barone of the Bongos told the Star-Ledger, "The explosion of Maxwell's was something that was so organic. It happened so fast, it was like spontaneous combustion. It's what pop stars aspire to, and in this case, Maxwell's was itself a pop star."

Barone has also said that he plans on playing with his band at the venue on its final night on July 31.

Hoboken Mayor Dawn Zimmer has reported that she did everything she could to keep Abramson's place open, telling the Star Ledger: "When I first heard that Maxwell's might close, I made it a priority to do everything we could to help them stay open. While I'm saddened to see it go, I understand that things change, and Todd and his team did everything they could to make it work."

Here is a video of Nirvana playing at Maxwell's in 1989: