The Halal Guys Opening 2 Miami Restaurants

The countdown to the best chicken and gyro combo platters in Miami is on! The Halal Guys will open its newest restaurants in South Miami near the University of Miami at 5966 South Dixie Highway. Soon to follow will be their second location at 1010 Brickell Avenue.

Miami-based investment real estate firm Mattoni Group is excited to welcome the famed NYC eatery as one of the first retail tenants in the building. “Since Brickell is a growing metropolitan residential community, the area has a high density of residents, making it a desirable location for retailers,” said Mattoni Group Founder and President Ricardo Caporal.

There will be more fun than falafel at the Grand Opening events, both slated for Fall 2017. The first 100 people to enter the restaurant get a special The Halal Guys tumbler, which earns them free drink refills for LIFE! Throughout the day, the crew will be serving up more than their specialty sandwiches and platters – lucky diners will have the chance to get The Halal Guys t-shirts and sunglasses, plus exclusive rewards cards that include free food prizes!

The Halal Guys legend began nearly three decades ago in New York City, when the three founding business partners learned there was a huge demand from New York cab drivers looking for American Halal food. An immediate success, The Halal Guys is well known for their famous chicken and gyro over rice platter and signature white and hot sauces. Even today, diners across the world will wait in long lines just to enjoy their unique and delicious food.

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Neighbors want Miami commission to scuttle part of Avra Jain and Mattoni’s Bayside Motor Inn redevelopment

UPDATED May 9, 6:15 p.m.: Miami activist Elvis Cruz and the Morningside Civic Association are hoping to put the kibosh on Avra Jain and the Mattoni Group’s plans to demolish a building tied to the redevelopment of the Bayside Motor Inn site.

Cruz and the association are asking the Miami City Commission to overturn a February vote by the Miami Historic and Environmental Protection Board that authorized tearing down a 6,430-square-foot structure at 5125 Biscayne Boulevard.

The appeal was scheduled for the commission’s planning and zoning agenda on Thursday, but it has been pushed back to May 25.

The developer 5101 RE CO LLC, a partnership between Mattoni Group and Avra Jain, wants to replace the existing building with a new three-story building totaling 18,994 square feet that would have ground floor retail and offices on the top two floors. The board also approved the renovation of the three-story hotel at 5101 Biscayne Boulevard. Both parcels are located next to one another in Miami’s MiMo neighborhood.

“Avra Jain has an amazing track record at preserving and redeveloping in the MiMo Historic District,” said 5101 RE CO lawyer Iris Escarra. “Mr. Cruz’s appeal, in our opinion, is unwarranted and violates the settlement agreement entered into in 2014 when Avra agreed to build in accordance with the current regulations and give up the 8 Story vested project.”

In an email, Cruz said he was too busy to comment immediately.

At the February preservation board meeting, Jain also explained to the board members that the 5125 building had sustained significant fire, water and termite damage, necessitating the teardown. “I can tell you without a doubt that the building is not worth saving,” she said at the time.

Jain bought the properties in 2013 and sold them in June of last year for $4.05 million to Mattoni Group’s 5101 RE CO, but has remained on board as a co-developer. The Bayside Motor Inn was built in 1952 and has 40 rooms in a 13,511-square-foot building. The partnership plans to convert the ground floor into restaurants, enhance the courtyard and keep a small number of hotel rooms on the second floor.

Mattoni zeroes in on multifamily projects in West Miami

Mattoni Group, a Miami-based real estate investment firm, is planning to deliver the first of its three planned multifamily projects in West Miami, The Real Deal has learned.

Soleste West Gables, at 2101 Ludlam Road, will be opening Sept. 1, Ricardo Caporal, founder and president of Mattoni Group, told TRD.

The project will have 206 apartments, with an average of 937 square feet for each unit. Rental rates will range from $1,525 to $2,760.

Mattoni is also planning two additional multifamily buildings: Soleste Prado, which will open in the early fall of 2016; and Soleste West Gables 2, which will open in the spring or summer of 2017.

The firm is partnering with Estate Investments Group and Fortune Capital Partners for all three projects.

Soleste Prado, at 950 Southwest 57th Avenue in West Miami, will have 194 apartments, with an average of 858 square feet. Prices are not yet available, Caporal said.

Soleste West Gables 2, at 2200 Ludlam Road in West Miami, will have 200 apartments, with an average of 877 square feet. Prices for that project are also not yet available.

The architect for all three buildings is Caymart Design. Each is ground-up construction, Caporal said.

The partners bought all the sites as distressed properties, he told TRD. The properties were purchased for an average price of about $6 million each, he said.

Caporal said he expects prospective tenants of the multifamily buildings to be young professionals and working families: “People who want a great product that is near Coral Gables, but don’t want to pay that [Coral Gables] price,” he said.

Mattoni Group, a private equity firm, has focused on multifamily projects from Florida to North Carolina, and plans to invest in hotels in the Caribbean, Caporal said. The company recently launched another multifamily project in Brandon, Florida.

Early this year, Mattoni bought the ground floor retail space, totaling 11,000 square feet, at 1010 Brickell Avenue, and is planning to lease it out to as many as three tenants, with asking rents from $100 per square foot to $150 per square foot. The 50-story condominium with 387 units, under development by 13th Floor Investments and Key International, is expected to be completed in 2017.

Unlike many other real estate firms, Mattoni has not developed condominiums.

“There’s more flexibility and optionality with multifamily: you can build it, sell it, refinance it, rent it.” Even in troubled economic times, “you can lower rents but still rent it.” Caporal said. “For us, it’s more about steady growth.”

Mattoni zeroes in on multifamily project

 

Mattoni Group buys retail space at 1010 Brickell

Miami-based real estate investment firm Mattoni Group said it has acquired all the street-level retail space at 1010 Brickell, which is being developed by 13th Floor Investments and Key International Development.Mattoni Group purchased more than 11,000 square feet of space on the ground floor of the Brickell Avenue condominium tower, which will have 50 floors and 387 units. Mattoni Group said it plans to lease the spaces to major retailers, with an asking Rendering of 1010 Brickell rental rate of $100 to $150 per square foot. The property is scheduled to be completed in fall 2017.Brokers Fernando Naranjo, president of The Orange Group, Real Estate Corp. and Lucio M. Rodrigues, of AG Real Estate Advisors, represented Mattoni Group in the deal.1010 Brickell is positioned to have accessibility to the Tenth Street Metromover station on the Brickell Loop in Brickell. It is also in walking distance to Brickell’s main attractions & restaurants at The Shops at Mary Brickell Village and the future Brickell City Centre.In November, the developers obtained a $76 million syndicated construction loan, led by Regions Bank, for the project. Construction began in September for the building, designed by the Sieger Suarez Architectural Partnership.“Since Brickell is a growing metropolitan residential community,” Ricardo Caporal, founder and president of Mattoni Group, said in a statement, “the area has a high density of residents, making it a desirable location for retailers.”
Tags: 1010 Brickell, 13th Floor Investments, Key International Development, Mattoni Group– See more at: http://therealdeal.com/miami/blog/2015/02/17/miami-real-estate-firm-buys-retail-space-at-1010-brickell/#sthash.2X0Sokvq.dpuf

Mattoni Group buys ground floor retail at 1010 Brickell

Miami-based real estate investment firm Mattoni Group has acquired all of the ground floor retail space at 1010 Brickell, which is being developed jointly by 13th Floor Investments and Key International Development. Mattoni’s purchase amounts to more than 11,000 square feet of space in the condominium tower which will feature 387 units over 50 floors. The company is expected to charge $100 to $150 per square foot for the retail space which it plans to lease to major retailers. 1010 Brickell is scheduled for completion in the fall of 2017.