Playboy HQ Deal With Rivani at Risk Without $800K Incentive from Miami Beach

Key Points

• Playboy wants $800,000 in job incentives over 4 years to finalize its HQ move to Miami Beach.

• The lease is tied to Rivani’s luxury office building at 1691 Michigan Ave., near Lincoln Road Mall.

• If incentives aren’t approved by Dec. 31, Playboy can terminate the lease — unless Rivani grants rent abatements.

Playboy's HQ Move Hangs on City Cash

Playboy Enterprises is eyeing Miami Beach as its new global headquarters, but the deal is far from finalized. The company has told city officials it wants $200,000 a year for four years in job incentives — or it may back out.

The relocation hinges on the city agreeing to a package well above the standard program cap. In this article, we break down what’s at stake for the city, landlord Rivani, and South Florida’s broader office market.

Playboy’s Ask: $200K a Year or Bust

• Miami Beach’s Job Creation Incentive Program typically offers up to $60,000 per year for four years.

• Playboy is requesting $200,000 annually, more than triple the usual maximum.

• If the city doesn’t approve the request by Dec. 31, Playboy has the right to terminate the lease.

The Office: 1691 Michigan Ave.

• The landlord is Rivani, a developer focused on luxury commercial assets.

• The property sits just off Lincoln Road Mall, a key location in Miami Beach’s commercial district.

• The building is being repositioned as a high-end, hospitality-inspired office concept targeting elite tenants.

Developer’s Dilemma: Rent Relief or Risk Vacancy

If the city declines Playboy’s request:

• Playboy can cancel the lease under the current agreement.

• Rivani can choose to offset the shortfall with $200,000 per year in rent abatements for four years to keep the lease alive.

• Without that, the lease is terminated and the space re-enters the market.

Investor Takeaways

• More tenants are negotiating performance-based clauses and demanding city incentives as part of their lease terms.

• If Miami Beach agrees to Playboy’s demand, it could set a precedent that encourages other companies to request above-cap incentives.

• Landlords in trophy buildings must now consider potential future concessions when underwriting long-term leases.

Leveraging Brand Power

This deal is more than just one lease agreement. It’s a sign of the times in the South Florida office market, where tenants with brand power are testing how far cities and landlords will go to secure their presence.