I didn't know about SVT but I used to go to some underground or floating clubs many years ago. They were usually in commercial space throughout Manhattan. I am guessing that is was often shifting real estate markets that moved things. Some owner agrees to lease space to a club on a temporary basis and then he gets a better offer from a legit, full-time, real business. Club out; fresh coat of paint; business in.  
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(In commercial settings, the neighbors usually go home long before the clubs start rocking and don't arrive the next morning until the clubs are closed. I doubt that there were complaints from neighbors unless there was spillover - damage to public spaces, attempted break-ins under the cover of clubbing, etc..)  
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Does anyone remember the fairly recent newspaper interview with the floating club operator who was pretty much bragging about how easy it was for him to operate in NY? I think it was in the NY Times. It was like waving a red cape in front of a bull (LE). Was he the SVT guy?