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560 Northeast 34th Street

Wes Powell Of AIMCO Leases 11,500 Square Feet To Gioia Hospitality Group In Miami
LEASEDRetail

Wes Powell Of AIMCO Leases 11,500 Square Feet To Gioia Hospitality Group In Miami

560 Northeast 34th Street

Building Size

11,500 SF

Asset Type

Retail

Closing

Jul 7, 2026

AI

The property involved in this lease transaction is a retail asset located at 560 Northeast 34th Street, Miami, FL. The total square footage of the leased space is 11,500. The property is situated in a developing market area, specifically targeting the waterfront for a steak and seafood restaurant.

Summary of transaction details:

Michael Silverman and Jeff Evans from The Comras Company represented the landlord, AIMCO, in this lease transaction. The tenant, Gioia Hospitality Group, is led by Thomas Angelo and Kassidy Angelo, who are initiating a waterfront dining experience at the location.

Players

Michael Silverman

The Comras Company

Broker

$29.6M

vol

5 deals

Broker
Wes Powell

Wes Powell

AIMCO

Landlord

$963.2M

vol

7 deals

Landlord
Thomas Angelo

Thomas Angelo

Gioia Hospitality Group

Tenant

$84.9M

vol

2 deals

Tenant

North East 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