RIVANI Acquires Historic Lincoln Theatre Building in Miami Beach for $37 Million

Robert Rivani, President of RIVANI, has acquired the historic Lincoln Theatre building at 551 Lincoln Road in Miami Beach for $37 million, a property anchored by H&M. This acquisition follows the recent announcement that Playboy will relocate its global headquarters to the penthouse at RIVANI's flagship project at 1691 Michigan Avenue, further solidifying Rivani's footprint on Miami Beach and signaling a new chapter for the city's iconic pedestrian promenade. Rivani stated, "This is one of the most iconic properties on Lincoln Road and has the potential to reignite the area as the cultural heartbeat of the city."

The historically designated 1935 Art Deco property, secured below market value, spans 35,240 square feet and is currently 98% leased to premier tenants, including H&M, Swatch, Chilli Beans, and Tapelia Spanish Cuisine. H&M occupies approximately 84% of the building as its flagship Miami Beach store, while Swatch recently completed a full renovation and reopened in July. The property has received nine prestigious awards, including the ULI Visionary Project of the Year Award, highlighting its significance in the retail and hospitality landscape.

With ongoing development and anticipated zoning changes around Lincoln Road, demand for prime retail and hospitality locations continues to rise. The sale was brokered by JLL's Danny Finkle and Evan Larh, underscoring the property's value in a competitive market. Rivani's investment aligns with his broader strategy of acquiring prime South Florida assets, having amassed over $250 million in holdings, with $150 million invested solely in Miami Beach. His portfolio includes acclaimed destinations like Amara at Paraiso, the upcoming GAIA, the fully leased Wynwood Jungle, and RIVANI, a transformative 'Class X' office building.

This acquisition is part of a series of high-profile deals by Rivani in 2025, including the Playboy lease announcement, the $28.2 million sale of Catch Miami Beach—setting a Florida record for a freestanding restaurant—and a $38.25 million all-cash sale of two premier restaurant spaces within SLS Lux Brickell and Dua Miami Hotel. These transactions highlight Rivani's influence in shaping Miami Beach's economic and cultural future, emphasizing the importance of strategic real estate investments in urban revitalization.