Robert Rivani, commercial real estate and hospitality visionary and President of RIVANI (formerly Black Lion), has acquired the storied Lincoln Theatre building at 551 Lincoln for $37 million–a property famously anchored by H&M. Following the momentum of the announcement that Playboy will relocate their global headquarters to the penthouse at RIVANI’s flagship project at 1691 Michigan Avenue, this latest acquisition further solidifies Rivani’s footprint on Miami Beach and signals a bold new chapter for the city’s most iconic pedestrian promenade.
“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,” said Rivani. “Our continued investment in Miami Beach is a strategic commitment to its long-term future, and 551 Lincoln is a cornerstone of our vision to make Lincoln Road great again.”
Secured at well below market value, the historically designated 1935 Art Deco property spans 35,240-square feet and is currently 98% leased to a premier tenant roster, including H&M, Swatch, Chilli Beans, and Tapelia Spanish Cuisine. H&M occupies approximately 84% of the building, operating its flagship Miami Beach store, while Swatch recently completed a full renovation and reopened in July of this year.
The property has received nine prestigious awards across global, national, state, county, and local levels, including the highly coveted ULI Visionary Project of the Year Award. With ongoing development and anticipated zoning changes in and around Lincoln Road, demand for prime retail and hospitality locations in the area continues to rise. The sale was brokered by JLL’s Danny Finkle and Evan Larh.
Rivani has amassed over $250 million of prime South Florida assets over the past few years, with $150M invested in Miami Beach alone. His holdings include acclaimed destinations including Amara at Paraiso, the upcoming GAIA, the fully leased Wynwood Jungle, and RIVANI, a transformative ‘Class X’ office building. This year alone, he made headlines with a string of record-breaking deals, 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, marking one of 2025’s most significant hospitality-driven transactions.
Images via RIVANI and Anna Osborn