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1.
not just a basement, but a house that everybody refers to as "the basement." The basement in the house is the best part of the house where everybody congregates and chills.
"yo lets go to the basement and figure out what we are going to do."
by core 5 August 09, 2006
 
2.
The Basement is one of the greatest drinking spots conceived by man. It was created by several Graduates of CTK school. The Basement is called this because its elements resemble that of a real basement and it is in the woods! The basement once featured a couch, a love seat, a recliner, a table and chairs. The Basement is currently under construction due to extreme weather conditions and little ass holes that damaged it. The basement will soon be back to its full potential. And How could i forget that the basement is located in the Great Morrell Park.
Morrell Park is better than Modena. partly because it includes the Basement, the best drinking spot ever
by MorrellBigDog July 30, 2010
 
3.
noun. the place underneath your/my/someone else's house where cute boys and girls that you want to keep under your thumb but not date or have sex with go. These boys and girls can range in age anywhere from 9 to 99 as long as there is something simply adorable and/or fascinating about them.
That little nerd is totally going into The Basement.
by KLR or Jenny July 17, 2008