Robert Rivani's $50 million expansion of his South Beach office building
Robert Rivani's $50 million plan to expand The Rivani office building moves closer to voter approval. The Miami Beach Planning Board endorsed the proposal to add 36,000 square feet while eliminating 250 parking spaces.
Robert Rivani's ambitious $50 million expansion of his South Beach office building cleared a significant hurdle this week, moving one step closer to a public referendum that could determine the project's fate.
The Miami Beach Planning Board voted to recommend approval of Rivani's proposal to extend his ground lease at 1691 Michigan Avenue by 40 years, pushing the agreement to 2132. The expansion would add 36,000 square feet of office space to The Rivani, a six-story building that serves as headquarters for his development firm.
The project calls for eliminating 250 parking spaces from the building's seven-story garage, primarily from the rooftop and sixth level areas. Despite the reduction, the 712-space garage would still exceed city parking requirements by 37 spaces, according to Rivani's filings. The firm told board members the garage currently operates below capacity.
Beyond office space, the expansion includes three rooftop padel courts and approximately 6,000 square feet designated for restaurant use. These amenities would complement the building's existing features, which Rivani has branded as "Class X" office space.
The financial terms reflect the project's scale and potential impact. Rivani's annual base rent to Miami Beach would jump to $500,000 from the current $390,000 once construction completes. Additionally, his percentage share of gross income paid to the city would increase from 2.5 percent to 3 percent. The developer also committed $1 million toward public benefits, including contributions to the Lincoln Road streetscape and 17th Street master plan.
Rivani relocated his firm from Los Angeles to Miami in 2022, purchasing the building and ground lease for $62.5 million in 2024. He previously invested $50 million in renovating the existing structure during the first phase of development.
The building has attracted notable tenants including Daymond John, the "Shark Tank" investor and co-host, along with Playboy, which is relocating its headquarters from Los Angeles. Monarch Athletic Club, a gym and wellness facility, also signed on as a tenant. Plans include a speakeasy on the third floor developed in partnership with The h.wood Group.
If city commissioners approve the planning board's recommendation, Miami Beach voters will decide the lease extension's fate during a November referendum. The public vote represents the final hurdle for a project that could reshape office offerings in one of South Beach's prime commercial corridors.
