Owners of Coyo Taco to launch new restaurant in Wynwood

Lease comes out to $26,000 a month

Jul.July 07, 2016 05:15 PM

A pair of owners of Coyo Taco are doubling down on Wynwood with plans for a new restaurant.

Amadeus Concepts LLC signed a five-year lease for the property at 137-143 Northwest 23rd Street, Tony Arellano of Metro 1 told The Real Deal last month. The LLC is managed by Coyo owners Alan Drummond and Sven Vogtland who partnered up with Gabriela Chiriboga.

The company has plans for a food and beverage concept with 5,000 square feet of indoor space and a 5,000-square-foot patio. A spokesperson for Drummond and Vogtland told TRD that plans for the space are in preliminary stages.

The restaurant’s lease is an annual rate of $62.50 triple-net, which comes out to about $26,000 a month, Arellano told TRD. The off-market lease was brokered by Arellano and Fortune International Realty’s Ricardo Du Pond, and Tom Evental of Domain Real Estate Services.

Wynwood Elite Properties bought the building in January for $3.2 million. Arellano arranged that deal as well. Records show Ronald Firman of Miami controls the LLC.

Coyo will remain at its flagship Wynwood location, which is nearby at 2300 Northwest Second Avenue. The eatery announced it was opening a second Coyo at Axis Brickell in April.

A slew of new restaurants are headed to Wynwood, including Crudos Fusion Sushi at 250 Wynwood, KYU, and a new concept from chef and restauranteur Norman Van Aken.

Related Articles

Sarkis Izmirlian and 295 Northwest 20 Street (Credit: Google Maps)

Billionaire hotelier buys Overtown store for $6M

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

(Credit: Redwood Media Group)

Developers and brokerages are getting creative for Art Basel

Daily Digest Miami

Palm Beach estate hits market for $110M, Gulfstream Park bets on $20M renovation

Rendering of One Eleven Wynwood Hotel by Sonder and Eduardo Vargas, Andres Hogg and Andres Klein

Sonder inks lease for flagship Wynwood hotel

Gustavo Miculitzki, Jon Paul Perez, and Jay Roberts with a rendering of the project

Related, Block Capital sign deal with short-term rental operator

Daily Digest Miami

Sterling Bay tops off 545wyn in Wynwood, Reich Brothers buys $70 million former Sears distribution center in Ocala

LeBron James with a rendering of Unknwn Wynwood (Credit: Getty Images)

Renderings revealed: River Parc master plan, Unknwn’s Wynwood store