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830 Brickell Plaza

OKO Group And Tao Group Hospitality Lease Retail Space For Mediterranean Restaurant In Miami
LEASEDRetail

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