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Robert Rivani’s Black Lion sells Brickell restaurant space for $13M
Mezzanine level space leased to L.A. restaurant Delilah, opening later this year
Black Lion Investment Group’s Miami commercial condo portfolio is a little lighter after selling a waterfront restaurant space for $13 million.
An entity managed by Robert Rivani, president of Los Angeles-based Black Lion, sold the 10,700-square-foot space in the mezzanine level of Tower 4 at the Four Ambassadors Condominiums at 801 Brickell Bay Drive, according to records. The sale breaks down to $1,215 per square foot.
The buyer is an affiliate of Anav Investments, a commercial real estate investment firm also based in Los Angeles. Anav, led by Brian Anav, took over $3.2 million in mortgage debt as part of the deal, records show.
Last year, the owners of Delilah, a hip Los Angeles supper club, signed a long-term lease for the space, with plans to open its third location in the U.S., according to a press release. Delilah, set to open later this year, will feature a dining room, speakeasy-inspired lounge and private elevators.
In 2016, Black Lion purchased the commercial condos in the Four Ambassadors Tower 4 for $10.2 million, records show. The spaces totaled 17,600 square feet. Black Lion redeveloped the condos into waterfront restaurant and retail spaces called Brickell Bay Boardwalk.
In 2020, Black Lion sold 6,900 square feet inside Brickell Bay Boardwalk to BySabri Group, a Turkish entertainment company, for $8.5 million.
With the sale to Anav, Black Lion has sold all its Four Ambassadors commercial space for a combined $21.5 million, more than double its 2016 purchase price.
Black Lion remains bullish on South Florida commercial condos. In April, the firm paid $11.5 million for a 12,000-square-foot restaurant building adjacent to the Continuum South Beach condominium in Miami Beach’s South of Fifth neighborhood. Less than half-a-mile west, Black Lion also owns two ground-floor commercial condos in Marea, a boutique condominium. The firm paid $19 million for that space in December.
In Miami’s Brickell neighborhood, Black Lion owns the retail condo at the SLS Lux Brickell, which the firm acquired for $13.5 million last year.