Mast Capital just sold a historic French chateau on Brickell Avenue for $6.25 million, where it planned to bring an Italian restaurant.
Mast Capital sold the 5,837-square foot building at 1500 Brickell Avenue to Chateau Petit Douy LLC for $1,070 per square foot, property records show. Camilo Miguel Jr., CEO of Mast Capital, said Chateau Petit Douy is controlled by the hospitality group that is bringing a restaurant to the location. He said the restaurant will open in early 2019.
Italian restaurateurs Fabrizio and Diana Bianconi were planning to bring their first restaurant to the site. The couple could not immediately be reached for comment.
Chateau Petit Douy lists its manager as Dale Chappell, a managing member of the hedge fund Black Horse Capital Advisors. The buyer financed the deal with $3.25 million of seller financing.
Mast Capital bought the property in August 2013 for $2.58 million, and got it rezoned for retail and commercial uses. The company also upgraded the electrical and air conditioning and completed other renovations.
The building was originally built in 1928 and sits on a 15,300-square-foot lot near the intersection of Brickell Avenue and 15th Street, across from 1450 Brickell Avenue.
Bianconi’s Miami location would add to Diana and Fabrizio Bianconi’s portfolio of restaurants, which include Via Veneta and Bianconi in Los Angeles and L’Isola and L’Isoletta in St. Barts.