Robert Rivani Acquires $23M Palm Island Estate for Major Waterfront Redevelopment
- camilarosiaz
- 2 days ago
- 1 min read
Robert Rivani, founder of real estate firm RIVANI, has purchased a waterfront estate on Miami Beach’s Palm Island for $23 million and plans a significant redesign aimed at establishing one of the island’s standout private residences.
The property at 16 Palm Avenue sits on a 35,348-square-foot lot with roughly 220 feet of south-facing waterfront. The site can accommodate yachts up to 205 feet and is located within the guarded Palm Island community, offering a private setting with open bay views.
Rivani intends to reimagine the estate as a Mediterranean-inspired retreat influenced by South of France resorts. The redesign will emphasize organic materials, detailed craftsmanship, and a close relationship to the water and landscape.
Dina Goldentayer of Douglas Elliman represented Rivani in the purchase, while Luis Bosch of Venetian International held the listing. Goldentayer noted that the property, initially listed at $32.5 million, was acquired at a meaningful discount and described it as a rare combination of scale, location, and waterfront frontage.
RIVANI has built a portfolio of projects that includes hospitality, retail, and office redevelopments totaling over $1 billion in transactions. Its ventures range from the luxury office building The RIVANI on Miami Beach—now home to Playboy Enterprises’ penthouse office—to the recent $37 million acquisition of the historic Lincoln Theatre, as well as Wynwood Jungle, GAIA, and other large-scale mixed-use and retail holdings.