A former brothel on Rua do Alecrim, just off the Pink Street, reborn as one of the more theatrical bars in Cais do Sodré. The rooms keep the spirit of the building — velvet, erotic murals, a library of risqué books, and a small stage for burlesque and cabaret acts — and the whole place leans into its history rather than hiding it.
It works for an early cocktail as much as a late night, and the mix of locals and visitors keeps it from feeling like a pure tourist trap. The entrance is easy to miss; look for the staircase leading up from the street. Drinks are not cheap, but the setting is part of what you are paying for.