Rivani Inks Playboy as Anchor Tenant on Miami Beach for Iconic Brand’s HQ

Key Points

• 20,000 SF penthouse HQ leased by Playboy in Rivani at 1691 Michigan Ave., Miami Beach—a 10-year lease with corporate guarantee.

• The revamped building combines workplace with hospitality flair: content studios and a members-only Playboy Club in the works.

• Timed with Playboy’s 105% surge in licensing revenue (Q2 2025), highlighting a revitalized, asset-light strategy.

Playboy is packing up from Los Angeles and planting its global headquarters in Miami Beach’s revitalized Rivani building. This bold lease signals more than an address change—it’s a strategic pivot into hospitality-led branding in a market ripe for reinvention. 

The Lease: A Penthouse Reinvention

• Tenant & Terms: PLBY Group (Playboy) signed a 10-year lease for a 20,000 sq ft penthouse office in Rivani—Monsieur Robert Rivani’s newly rebranded 7-story mixed-use project at 1691 Michigan Ave.

• Timeline: Playboy’s roughly 250–300 employees are expected to move in next year, once renovations wrap up.

• Brokerage: Tony Jones of Cushman & Wakefield represented Playboy; Jeremy Hakala of Newmark handled the landlord side.

The Building & Developer Vision

• Rivani (formerly The Lincoln) was purchased in 2024 by Robert Rivani (formerly Black Lion) for $62.5 million. The land remains city-owned.

• The property is undergoing a $100 million renovation, conceived as a “Class X” luxury workplace with hospitality-grade amenities—from speakeasies and fitness centers to Omakase dining and wellness spaces—designed by Rockwell Group and others.

• Playboy’s tenancy adds prestige and momentum for leasing other high-profile tenants.

Playboy’s Brand Reinvention & Financial Upside

• Financial Turnaround: Q2 2025 revenue climbed 13% to $28.1 million, largely thanks to a 105% leap in licensing revenue (from $5.3M to $10.9M).

• Bottom Line Gains: Net loss trimmed from $16.7M in 2024 to $7.7M, while Adjusted EBITDA turned positive at $3.5M.

• Asset-Light Push: The company is doubling down on licensing and hospitality, including content studios and the revival of a Playboy Club in Miami Beach, echoing the original Mansion vibe.

Playboy’s move to Miami Beach, anchored by a high-profile lease in the ultra-amenitized Rivani building, is the latest testament to its strategic metamorphosis. For CRE investors and brokers, it’s a signal: legacy brands can rediscover relevance through creative hospitality and licensing strategies—and buildings that marry work, wellness, and experience are winning big.