Shark Tank’s Daymond John, a self-made millionaire businessman and TV personality, took 3,000 square feet at Robert Rivani’s office building in South Beach, The Real Deal has learned.
John, who is a Shark Tank investor and co-host, leased the space at The Rivani building at 1691 Michigan Avenue in Miami Beach. The lease was revealed in a video featuring John and posted on Instagram by Rivani. A Rivani representative disclosed the square footage.
“You have to make a place where people want to come,” John says in the video.
His comment was in reference to the demand for high-end office space. Rivani’s firm is working on a $100 million-plus renovation of the seven-story, 163,000-square-foot mixed-use South Beach building. Completion is expected this summer.
John’s ventures include hip hop apparel company Fubu, and brand management and consultancy The Shark Group.
It wasn’t immediately known which of his companies leased an office at Rivani’s building. John has a coworking office at Mindspace in Wynwood.
The lease size aligns with the trend of new-to-market companies or executives taking small office spaces when they plant South Florida flags or expand their presence in the region. The tri-county region is experiencing an influx of well-heeled executives, some fleeing blue states such as California, where a one-time billionaire tax is proposed, or New York, where Mayor Zohran Mamdani has floated a property tax increase.
Many of the executives who buy South Florida mansions are expected to also open offices nearby, though they generally seek boutique and bespoke spaces, market experts have said. Generally, newcomers eventually grow their offices in South Florida, if they choose to stay here, brokers say.
Rivani also moved his firm from Los Angeles to Miami in 2022, as part of the pandemic-era influx of out-of-state executives and firms to South Florida partly due to its early lifting of the lockdown and other business-friendly policies.
The Rivani building made a splash last year, securing Playboy as a tenant. PLBY Group, the Los Angeles-based publicly traded company that owns Playboy, leased a 20,000-square-foot penthouse and will move its headquarters from LA. Monarch Athletic Club will open a gym, and a Tokyo-inspired speakeasy is planned for the third level.
Others that have leased at The Rivani include residential brokerage powerhouse the Jills Zeder Group of Coldwell Banker, hedge fund Divisadero Capital, and stem cell and regenerative medicine practice Prime Longevity.