Michelin star leasing: Real estate realities behind South Florida’s dining boom

June 2026, F+B Hospitality Brokerage's, Felix Bendersky, was quoted in The Real Deal in their article, "Michelin star leasing: Real estate realities behind South Florida’s dining boom".

"Felix Bendersky, founder of Miami-based F+B Hospitality Brokerage, said the average restaurant operates on a 3 percent net profit margin. A common industry benchmark is for rent to account for no more than 10 percent of projected sales, he said.

Bendersky expects more closures this summer, a period he refers to as the “ghost summer.”

The term refers to restaurants that quietly disappear without publicly announcing their closure.

He said rather than issuing formal statements, some operators suddenly stop service, reduce operating hours or claim they are temporarily closed before ultimately shutting down for good. 

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