David Bracha's River Seafood & Oyster Bar will make its long awaited move out of Brickell sometime in 2015.
Bracha, who also owns Oak Tavern in the Design District, has leased spaced on the ground floor of the rising Flagler on the River Apartment Towers being built by Argentine developer the Melo Group. They hope to secure two more restaurants for the space in the future.
Despite construction turning the neighborhood surrounding River Oyster Bar into a traffic-clogged war zone, the restaurant has continued to fill both during it's happy hour - with ridiculously cheap bar bites - and in the evening.
In 2012 the property on the corner of South Miami Avenue and Southwest 7th Street was bought by a Colombian developer for $12.5 million. The value of land, where Tobaccoa Road and Bond Trisransi's Bonding also stand, saw its value boom as the billion dollar Brickell City Centre began rising around it.
At the time new owner Carlos Mattos offered the businesses each a three-year lease, and appears to be keeping his word.
The River's impending move is a big loss for Brickell. With sky high lease prices it seems only large chain Asian fusion restaurants and Irish Pubs have the wherewithal to open in the increasingly congested neighborhood. Beyond a handful of spots like MyCeviche, OTC and Momi, it seems Brickell is suffering from too much of a good thing.
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Can any Brickell residents tell us why you spend about $2,000 a month for a one bedroom in an urban neighborhood where getting a solid bite often means hopping in the car and fighting traffic on the way to somewhere else? We'll wait.