French-Inspired Cafe Maman Signs 10-Year Lease For Brickell Avenue Retail Space At 830 Brickell
830 Brickell Avenue
Building Size
2,590 SF
Asset Type
Retail
Closing
Dec 1, 2023
AI
The French-inspired cafe Maman from New York has signed a 10-year lease for a 2,590-square-foot space in the ground floor of 830 Brickell Avenue, Miami's first standalone office project in decades. The 55-story tower is fully leased for its office component, with Maman set to open in Q4 2023, marking its fourth location in South Florida.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not available
- Square Footage: 2,590
- Address: 830 Brickell Avenue
- Market: Miami
The landlord of the property is Oko Group, represented by Vlad Doronin, and Cain International, represented by Jonathan Goldstein. Maman, represented by Elisa Marshall and Benjamin Sormonte, is the tenant. The landlord's representatives are Aaron Butler and Daniel Cardenas from Avenue Real Estate, while the tenant's representatives are Emily Green and Taryn Brandes from Brand Urban, and Michael Sullivan from Vertical Real Estate.
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