Ytech's Yamal Yidios Leases 6,400 SF Retail Space On Brickell Avenue To Major Food Group
1500 Brickell Avenue
Building Size
6,400 SF
Asset Type
Retail
Closing
Dec 1, 2023
AI
Ytech, owned by Yamal Yidios, has entered into a lease agreement for a retail space located at 1500 Brickell Avenue in Miami. The property spans 6,400 square feet and is situated in the Brickell neighborhood, a prominent market in Miami.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 1500 Brickell Avenue
- Market: Miami
- Square Footage: 6,400
The landlord of the property is Ytech, represented by Yamal Yidios. On the other hand, the tenant is Major Food Group, consisting of Mario Carbone, Jeff Zalaznick, and Rich Torrisi. Major Food Group will be opening a Mexican restaurant and private club called Chateau ZZ's at the historic Château Petit Douy in Brickell.
It is important to note that the lease agreement is for a 20-year term with two five-year extensions, previously negotiated with the property's previous owner.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93