Mila Owners Take 21K-SF Space At E11even Condo
The hospitality group behind Miami Beach hotspot Mila is crossing Biscayne Bay to the E11even-branded condo tower, now under construction in Downtown Miami.
Riviera Dining Group (RDG) will occupy a 16,000-square-foot restaurant on the second floor as well as a 5,200-square-foot private lounge on the rooftop of the 65-story tower building. A representative for the developer, Property Markets Group (PMG), described the deal as “a 10-year commercial parcel sale with options for renewals” and declined to further clarify.
E11even is part of a dual-tower luxury development branded by one of Miami’s most popular nightclubs. The first tower, located at 20 Northeast 11th Street, broke ground last year after PMG and E11even’s owners secured a $149 million construction loan. The 375-unit development is scheduled to be completed in 2025.
The second tower is expected to open a year later. Though construction has yet to start, it too is securing hospitality operators. Earlier this month, the company behind The Clayton, a private lounge in Chicago, bought retail space at the 58-story development.
RDG’s Mila, located right off of Lincoln Road, was the fifth highest grossing restaurant in the country in 2021, earning over $27 million, according to Restaurant Business. RDG’s other concepts include BÂOLI, also in South Beach, CASA NEOS, slated to open later this year in Brickell, and AVA MediterrAegean near Orlando.
Julia Echikson can be reached at email@example.com.