Robb Report The Team Behind Carbone and Torrisi Is Partnering On a 58-Story Luxury Condo in Miami
Major Food Group is giving the Miami real estate scene another try.
The hospitality company known for spots like Carbone and Torrisi has opened seven restaurants and private clubs in the Florida city over the past two years. After backing out of a previous deal to manage a 90-story tower, the team will once again add a luxury condo building to its Sunshine State portfolio, The Wall Street Journal reported on Monday.
Major Food Group has teamed up with two local development companies—Terra and the One Thousand Group—to open the Villa, a 58-story property that will feature the group’s restaurants as prime amenities. These spots will likely be new concepts with elements inspired by the company’s existing brands, it told the WSJ.
“Opening a restaurant, we’ve obviously done many times,” the co-owner Jeff Zalaznick told The Wall Street Journal. “This time we get to help create the building that surrounds it and all the amenities.”
At the Villas, residents will get to enjoy 20,000 square feet of restaurant amenities, including a private Italian restaurant, residential dining, private-chef services, and cooking classes (one restaurant will also be open to the public). Along with its culinary bent, the building—with 60 units that start at $4.5 million—will have 360-degree views of Biscayne Bay. The property comes with a $500 million price tag to build, and is scheduled to open in 2026.
The Major Food Group collab is just the latest in a slew of branded residences that are turning toward restaurants to attract buyers. Terra also recently sold out the Mr. C Residences in Miami, which is a project with Ignazio Cipriani of the Cipriani family. Elsewhere, restaurants like Nobu have residences in Toronto and Los Cabos.
“Food and beverage is now a forethought whereas before it might have been an afterthought,” Terra CEO David Martin told the WSJ.
These notable names have certainly drawn in residents: Despite an overall downturn in the housing market, branded residences have weathered the storm rather nicely. And while inflation is rising across the country, many Americans are still dining out: Spending at bars and restaurants rose 15.3 percent in February compared with the year prior, The Wall Street Journal noted.
Major Food Group seems to have found a lucrative way to combine those two promising trends.