Mercante Restaurant Venture Takes Miami River Space at $70,000 Monthly Rent

Hospitality veterans Nicola Siervo and Roman Jones have signed a 15-year lease for 7,900 square feet at 404 Northwest North River Drive in Miami, paying $70,000 in monthly rent for the planned Mercante Ristorante & Piano Bar, scheduled to open later in 2026. The rent equates to $106 per square foot annually, reflecting premium pricing for waterfront restaurant space on the Miami River, according to a person familiar with the matter. A restaurant spokesperson declined to comment. The lease carries a right of first refusal should owner Wees Brothers Inc., managed by the Sanchez family, sell the building. Jones signed a $15 million partnership with the Sanchezes last year for the property, the Miami New Times reported. The Italian Riviera-themed concept will seat 175, with a 150-foot dock, waterfront terrace and live entertainment. Nikolai Design is handling the project.