Robert Rivani, and his wife, Krystal Rivani, sold their penthouse at the Ritz-Carlton Residences, Miami Beach for $8 million.
A trust managed by Miami Beach philanthropist Maria Bechily-Hodes purchased the top-floor four-bedroom unit in the eight-story condominium at 4701 North Meridian Avenue, records show.
The Rivanis, who lead Miami-based Black Lion Investment Group, flipped the penthouse for a $500,000 gain. In May of 2022, the couple paid $7.5 million for it.
Robert Rivani, Black Lion’s CEO, told The Real Deal that he and his wife moved into a seven-bedroom house in Miami. But their new abode is nothing like the fantastical-themed estate inspired by “Games of Thrones” and “Harry Potter” that the couple used to own in Los Angeles, Rivani said.
“It’s not another castle,” he said. “I wish.”
Last year, the couple sold Castle Rivani, a two-story mansion with seven bedrooms in Beverly Hills, for $20 million.
Rivani declined further comment about the couple’s new home, including whether they bought it or are renting it. “I would like to keep that private, due to security reasons,” he said. Miami-Dade records do not show any recent home purchases under the Rivanis’ names.
Dina Goldentayer of Douglas Elliman represented the Rivanis in their sale of the Ritz-Carlton condo.
Between 2021 and 2022, Black Lion made a big splash in the Miami retail real estate market by amassing a portfolio of commercial units in luxury condominiums. During that time frame, Black Lion paid a combined $77.1 million for six restaurant spaces. The Rivanis bought the Ritz-Carlton penthouse shortly after relocating Black Lion from Los Angeles to Miami.
Last year, Black Lion sold one of the commercial units, a ground-floor space at the Zaha Hadid-designed One Thousand Museum condominium for $7.9 million. The firm listed two other commercial units: one at SLS Lux Brickell in Miami’s Brickell neighborhood that houses Japanese steakhouse Gekkõ; and Amara at Paraiso’s restaurant space in Paraiso Bay Residences in the city’s Edgewater neighborhood. The asking price for both, combined, is north of $55 million.
However, Black Lion continued prowling for deals. In April of last year, a company affiliate paid $10 million for an indoor/outdoor restaurant on the ground floor of the Brickell SLS Miami. And Black Lion and its partner, Massa Investment, are also under contract to buy the former Starwood Capital headquarters building in Miami Beach for $82 million.
The deal’s closing was recently delayed, as the seller, New York-based Nightingale Properties, faces allegations that its Ellie Schwartz misappropriated investor funds.