OKO Group And Tao Group Hospitality Lease Retail Space For Mediterranean Restaurant In Miami
830 Brickell Plaza
Building Size
—
Asset Type
Retail
Closing
Dec 4, 2024
AI
The property located at 830 Brickell Plaza is a 55-story Class A office building situated in Miami. The asset type is retail, and it will host a Mediterranean restaurant and private members club on the top two floors. Notably, the tower is fully leased and houses tenants including Microsoft and Citadel.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 830 Brickell Plaza
- Market: Miami
- Landlord: Jonathan Goldstein & Justin Oates - Cain International; Oko Group
- Tenant: Vlad Doronin - OKO Group; Noah Tepperberg & Jason Strauss - Tao Group Hospitality
The lease agreement was made between OKO Group and Tao Group Hospitality, allowing them to occupy the top floors of the building, which is well-regarded within the market. The venue is set to debut next year, further adding to the variety of offerings in the Miami area.
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