Demolition is underway at 3480 Main Highway in Coconut Grove, paving the way for a new five-story office building with a restaurant that’ll have a rooftop area.
Optimum Development USA took out a $21.5 million mortgage for the two-building property, which is next to popular eatery Greenstreet Cafe. The location served as the home to many failed restaurants over the years, including Senor Frog’s, Sekai, and El Sitio.
Designed by Arquitectonica, the new project entails 44,000 square feet of Class A office space and 6,500 square feet for a high-end restaurant, which will also include a rooftop deck overlooking Biscayne Bay.
Optimum affiliate 3480 Main Highway LLC paid a combined $8.5 million for the two buildings in 2014.
The property will join several other new offices planned for the Grove, including Terra’s Mary Street and Lointer Home’s 27@Lincoln. Nearby CocoWalk is also undergoing changes in the form of a multiphase renovation that includes a new office building.
The expected completion time for 3480 Main Highway once the building breaks ground is 12 to 14 months.