City of Miami Beach Commission Meeting Agenda April 2026
City Negotiates Major Lease Amendment with RK Rivani for 1691 Michigan
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Description
Miami Beach is considering a first amendment to its 1999 lease with RK Rivani, LLC for 1691 Michigan Avenue, adding two 20-year renewal options, higher base rent, and $50 million in office expansion improvements plus $1.3 million in public benefits. The lease amendment requires a 5/7ths bid waiver, voter approval in a citywide referendum, and completion of the new improvements.
Contract Details
Vendor
RK RIVANI LLC
Agency
City of Miami Beach, FL
Contract Type
OTHER
Document Date
April 22, 2026
Contract Term
Original lease dated September 1, 1999; proposed two (2) additional twenty (20) year options
Renewal Info
Proposed first amendment would extend lease via two 20-year renewal options with capped market rent adjustments at each of four renewal periods.
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