Rivani Lands $114M Refi For Playboy HQ Building: The South Florida Deal Sheet

Robert Rivani landed $114.3M to refinance a Miami Beach property he is renovating into what he dubbed a “Class-X” office and retail property.

BridgeInvest provided the financing, which Rivani is using to cover leasing costs and other expenses as the property moves toward stabilization, according to a release.

Berkadia‘s Brad Williamson, Scott Wadler, Michael Basinski, Mitch Sinberg and Matthew Robbins secured the financing on behalf of Rivani.

Rivani purchased the 2003-built, 119K SF property at 1691 Michigan Ave. in 2024 for $62.5M, with plans to spend $100M on renovations. The upgrades were designed by New York-based architecture firm Rockwell Group and intended to create a new level of luxury for a Miami office building.

Renovations are now complete, and the office has reached 83% leased. Tenants include Playboy, which signed a 20K SF lease for its headquarters in August 2025, Apple, Morgan Stanley, Wix, The Jills Zeder Group, World Red Eye, Monarch Athletic Club and Rivani’s real estate firm. Recent tenants have agreed to pay $175 per SF for office space, The Real Deal reported this summer.

Rivani is seeking approval for a $50M expansion to the property’s parking garage that would add 47K SF of new development.

SALES

Dallas-based Dalfen Industrial acquired an 89K SF industrial property in Miami’s Airport West and Doral submarket, according to a release.

The asset at 7600 NW 26th St. brings the company’s South Florida portfolio to 1.7M SF across 18 properties. The sale price wasn’t disclosed.

A Terreno Realty Corp. affiliate purchased the property in 2012 for $12.1M, according to the Miami-Dade County property appraiser.

Aircraft maintenance and repair company Avborne has occupied the space for more than 20 years.

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An entity tracing to Angel Calzadilla sold a 99K SF warehouse in Hialeah to an affiliate of WareSpace for $20M, according to property records provided by Vizzda.

The building at 4900 NW 167th St. features 6,600 SF of office, 95 parking spaces and 20-foot clear heights. WareSpace plans to turn the building into more than 125 flexible warehouse bays ranging from 200 SF to 2K SF, the South Florida Business Journal reported.

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Redfearn Capital purchased a retail and office property in Delray Beach from an entity tracing to William Himmelrich for $38.2M, according to property records provided by Vizzda.

Redfearn secured a $27.6M loan from Knighthead Funding for the transaction.

The two two-story buildings at 105 to 111 E. Atlantic Ave. were built in 1952 and 1971. Himmelrich’s bread business, the Old School Bakery, was originally located on the site before moving to an industrial facility at 45 N. Congress Ave. in Delray Beach.

Cushman & Wakefield’s Mike Ciadella, Scott O’Donnell and Miguel Alcivar, along with Katalyst Real Estate’s Don Ginsburg and Adam Steinlauf, represented the seller, according to a release. 

Cushman & Wakefield’s Florida equity, debt and structured finance team, Ron Granite and Jason Hochman, represented Redfearn Capital in securing financing for the acquisition.

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An entity tracing to Jessica Goldman Srebnick and Janet Goldman sold The Tony Hotel South Beach after four decades of ownership, The Real Deal reported.

The 52-room hotel, named after Srebnick’s father and Goldman Properties founder Tony Goldman, sold for $16.5M.

The buyers, French hospitality duo Philippe Le Guennec and Benjamin Debard, also own the Kimpton Angler’s Hotel in Miami Beach, which they purchased last year for $44M.

Goldman Properties purchased the site, originally known as the Tiffany Hotel, in the 1980s for $550K. The property was renamed in 2022 after Tony Goldman, who was known for resuscitating neighborhoods like Wynwood and South Beach.

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Entities tracing to FHE Health sold and leased back a 10-building rehab and behavioral health facility in Deerfield Beach, according to property records provided by Vizzda.

The buyer was an entity tracing to Daniel and Thomas Neary, which assumed the seller’s mortgage with Antarctica Real Estate Partners and boosted it to $30.2M.

FHE leased back the 98K SF property along South Federal Highway for 25 years with two five-year extension options. The complex spans a six-story building, four two-story buildings and five one-story buildings.

The facility helps people recover from mental health issues such as depression, anxiety, bipolar disorder, post-traumatic stress disorder, obsessive-compulsive disorder and more.

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Nuveen sold a 215K SF shopping center in West Palm Beach for $66.8M, according to property records provided by Vizzda.

The buyer, an affiliate of The Mount Vernon Co., took on a $35.8M loan from Beacon Bank & Trust to purchase the four buildings built in 1989 and 2025.

The Promenade Shopping Plaza at 9930 Alt A1A is anchored by Publix and Planet Fitness.

LEASES

The H.wood Group’s Japanese-inspired cocktail bar, Bar Shishi, opened a 2K SF location at Rivani Miami Beach, according to a release.

The hospitality company, known for The Nice Guy and Bootsy Bellows, will operate the 12-seat bar with hand-carved ice, Japanese cocktail techniques and a food menu that includes hamachi crudo, wagyu katsu, sushi and caviar.

Rivani is touting the bar at 1691 Michigan Ave. as among the building’s amenities, including a fitness and wellness center, a speakeasy, private event venues and a meditation room.

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Brasfield & Gorrie is relocating its office from Coral Gables to a 19K SF office in Weston Pointe I, according to a release.

The contractor plans to move from its space at 2333 Ponce de Leon Blvd. to Weston by the second quarter of 2027.

JLL’s Ryan Levy represented Brasfield, and Cushman & Wakefield’s Chase Kulp and Deanna Lobinsky represented the landlord, New York Life Investments.