Tao Group Hospitality and Vlad Doronin’s OKO Group have dissolved their hospitality joint venture that planned a restaurant and private club at the 830 Brickell office tower in Miami, The Real Deal has learned.
In December, Miami-based OKO announced its Miami Members Hospitality joint venture with Tao, stating the partnership’s first venue would be a Mediterranean restaurant and club with a members-only lounge expected to open this year on the top two floors of the 830 Brickell office tower. In a news release at the time, Doronin said OKO and Tao “will craft an elevated experience that resonates with the district’s dynamic spirit and sets a new standard for the city and beyond.”
At some point after the announcement, the joint venture was dissolved, sources told TRD. OKO still plans to open a restaurant and lounge at 830 Brickell’s top two floors, another source said.
Tao Group confirmed that the firm and OKO “agreed to mutually part ways.” OKO declined to comment.
Miami-based OKO and London-based Cain International completed the 55-story 830 Brickell last fall at 830 Brickell Plaza in Miami, after a roughly two-year completion delay. It’s the first new standalone office tower in the Brickell Financial District in over a decade.
The fully leased tower was under construction during the pandemic-induced influx of out-of-state companies to South Florida, leading to a preleasing bonanza at 830 Brickell. Tenants include wealth manager Corient, private equity firm Thoma Bravo, law firm Kirkland & Ellis, Brazilian bank Banco Master, and Ken Griffin’s Citadel and Citadel Securities.
Over the past two years, new-to-market companies slowed their South Florida expansions, with some pulling the plug on planned offices. Financial services firm Rothschild & Co, which had leased 5,000 square feet at 830 Brickell in 2023, opted out of opening a Miami office. Law firm Winston & Strawn, which also had preleased at 830 Brickell, opened an office at Southeast Financial Center in downtown Miami instead, citing the 830 Brickell construction delays.
Elsewhere in Miami, OKO and Cain are developing the 47-story, 135-unit Una Residences condo tower at 175 Southeast 25th Road in Brickell, and completed the 57-story, 249-unit Missoni Baia condo tower in Edgewater.
Tao Group, led by Noah Tepperberg and Jason Strauss, has a portfolio of restaurants, nightlife and daylife venues around the world. In South Florida, Tao has the Hakkasan Miami restaurant at Fontainebleau Miami Beach and, in partnership with Groot Hospitality, opened Casadonna restaurant in Miami’s Edgewater. Tao is a subsidiary of Nicosia, Cyprus-based Mohari Hospitality.
Last summer, OKO and Cain scored a $565 million permanent loan from Tyko Capital for 830 Brickell.
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