Black Lion Investment Group, led by Robert Rivani, has acquired a retail property in Miami's Wynwood neighborhood. The property, known as Wynwood Arcade, is a luxury class A building with a total area of approximately 23,000 square feet. The transaction was completed for a sale price of $13,250,000, resulting in a price per square foot of $576. The property is located at 50 NW 24th St and adds to Rivani's impressive portfolio of properties in South Florida, which includes Amara at Paraiso, Crystal Cove Commons, and Brickell Bay Boardwalk.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,250,000
• Address: 50 NW 24th St
• Market: Miami

In this deal, Black Lion Investment Group was represented by their broker, Tony Arellano from Downtown Realty Advisors. The seller of the property was East End Capital. This acquisition comes shortly after Rivani's purchase of Amara at Paraiso, demonstrating his commitment to investing in high-profile properties in the Miami area.

Robert Rivani expressed his enthusiasm for expanding his portfolio in South Florida, stating, "We want to have as many high-profile properties as possible in the Miami area." With the addition of Wynwood Arcade, Rivani further solidifies his presence in Miami's real estate market.