Greek Restaurant Avra Estiatorio to Open at Lofty Development in Brickell
By Julia Echikson February 27, 2023 6:20 pm
reprints
Avra Estiatorio, a Greek restaurant hailing from Manhattan, is coming to Brickell — its second location in South Florida.
The partners behind the high-end concept — restaurateurs Nick Tsoulos, Nick Pashalis and Marc Packer — signed a lease for the ground floor of Newgard Development Group’s Lofty condo development in Brickell.
The 15-year deal, which includes options to extend, spans about 15,000 square feet, enough to seat 300 indoors and an 3,000-square-foot outdoor seating area overlooking the Miami River. The asking rent stood at $150 per square foot triple net. Comras Company represented both the tenant and landlord.
The Brickell outpost will open shortly after the completion of the 44-story condo tower in 2025, according to a representative for the Miami-based developer. The Avra lease leaves only 1,500 square feet of retail space available at the Lofty project.
In June, Newgard Development Group scored a $110 million construction loan for the 364-unit project. In 2021, the developer paid $50.5 million for the 1.6-acre waterfront site at 99 SW Seventh Street, adjacent to South Miami Avenue, just north of the Brickell City Center mixed-use development.
Earlier this month, Newgard Development Group proposed erecting a second tower on the site, one that would rise 43 stories and feature 420 units.
Avra Estiatorio dates back to 2000 when the first location opened on New York’s East 48th Street. Today the restaurant, where a grilled tuna dish costs $56 and a swordfish $47, has two more Manhattan locales and one in Beverly Hills.
Most recently, in November, a 12,000-square-foot Avra restaurant opened on the ground floor of The Estates at Acqualina condo complex in Sunny Isles Beach.
Julia Echikson can be reached at jechikson@commercialobsever.com.
