Robert Rivani is done hunting for commercial condos in Miami Beach’s South of Fifth neighborhood after picking up a restaurant space near Joe’s Stone Crab.
Rivani, a mohawked retail investor who leads Los Angeles-based Black Lion Investment Group, paid $12.2 million for a 13,500-square-foot commercial unit at One Ocean Condominium at 1 Collins Avenue, according to a press release.
The seller, an entity managed by Roberto DiLanzo, Emilia Giusiti, Americo D’Agostini and Domenico Albano in Miami, paid $2.5 million for the unit in 2016. That is the same year developer Related Group completed One Ocean, a 46-unit boutique condominium, records show.
Fabio and Sebastian Faerman with FA Commercial represented Rivani. A&D Group Realty, led by D’Agostini and Albano, represented the seller, Fabio Faerman said.
The off-market deal breaks down to $903 a square foot.
The purchase completes Rivani’s South of Fifth buying spree that began with his $19 million acquisition in December of the commercial units on the ground floor of the boutique condominium Marea, the release states. An entity managed by D’Agostini and Albano sold the Marea units to Rivani.
In April, Rivani paid $11.5 million for a restaurant building adjacent to The Continuum South Beach.
Between his Miami Beach deals and other acquisitions in Miami, Rivani has invested more than $100 million amassing a formidable retail portfolio, the release states. In September, he acquired the ground-floor restaurant space at One Thousand Museum for $6.4 million. Rivani also owns a 14,000-square-foot space at SLS Brickell in Miami’s Brickell neighborhood that is leased to Gekko, a hip Japanese steakhouse owned by Miami hospitality guru David Grutman and Reggaeton megastar Bad Bunny.
Rivani recently relocated to South Florida, buying a four-bedroom penthouse at Ritz-Carlton Residences, Miami Beach for $7.5 million in May. Black Lion’s president and his wife, Krystal, also own a lavish, 15,000-square-foot mansion in Beverly Hills with interiors inspired by the “Harry Potter” movie series and the “Game of Thrones” HBO series.