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1500 Brickell Avenue

Ytech's Yamal Yidios Leases 6,400 SF Retail Space On Brickell Avenue To Major Food Group
LEASEDRetail

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

Yamal Yidios

Ytech

Landlord

$769.6M

vol

10 deals

Landlord

Mario Carbone

Major Food Group

Tenant

$4.3M

vol

2 deals

Tenant
MG
Major Food GroupTenant

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