Roman Jones Inks 20-Year Miami River Restaurant Lease

Roman Jones’ next restaurant concept along the Miami River is underway after plans were announced three years ago.

The founder of House Kiki, the hospitality group behind Kiki on the River and Habibi, closed on a 20,000-square-foot lease at 28 and 90 Northwest North River Drive for S&L, a steak-and-lobster restaurant. The space was formerly home to the historic Captain Tom’s Seafood restaurant, a Miami River staple dating back to the 1920s.

S&L is slated to open within three years, with capacity for approximately 200 seats, Jones told The Real Deal in an email.

The 20-year lease agreement has a percentage rent that will be north of $1 million annually.

Jones had plans in 2023 for an upscale Italian concept at the 0.2-acre site.

“Once we negotiated a longer lease, we saw the opportunity, as there isn’t currently a classic American brasserie concept featuring aged steaks and fresh seafood in a warm and updated Miami River setting,” Jones said. “We will still be opening an Italian concept on the Miami River in a different location, which will be announced shortly.”

The lease deal was facilitated by the Karpowich family, which owns the property.

“We can afford to pay more than anyone else on the Miami River because we deliver the highest sales per square foot in the area,” Jones said. “Our restaurant Habibi is slated to do $14 million this year within a 1,900-square-foot dining room, and Kiki on The River, which has been up in revenue every year since opening, will do $29 million this year within a 5,500 space.”

Since opening in 2017, Kiki on the River has been frequented by celebrities including Drake, Jamie Foxx and Dwayne Wade.

S&L marks the latest step in Jones’ broader expansion along the Miami River.

Jones signed a lease in 2023 for Crust restaurant at 668 Northwest Fifth Street, after buying the business and Crust brand.

The rest of the expansion was done through property purchases. Jones paid $5 million for the 0.2-acre Hernandez Body Shop lot at 666 Northwest Sixth Street, where he plans a Spanish seafood restaurant.

He paid $20 million for a four-story office building at 528 Northwest Seventh Avenue and inked a ground lease for the 0.3-acre vacant parcel immediately to the south and at 510 Northwest Seventh Avenue. Plans for these properties are yet to be finalized.

Christian Arrabal of AdviseCRE represented Jones in those deals.

His other restaurants include The Gramercy at 65 Miracle Mile in Coral Gables and El Santo at 1618 Southwest Eighth Street in Little Havana.