MIAMI BEACH, FL — Miami Beach is getting a new kind of office building, one designed to feel more like a private club and luxury hotel than a place of cubicles and fluorescent lights. Developer Robert Rivani has turned a former office property steps from Lincoln Road into “Class X,” a $100 million redevelopment aimed at wealthy tenants who expect wellness, hospitality and status alongside workspace.
The project sits at 1691 Michigan Ave., in one of the city’s best-known commercial corridors. Rivani says the concept reflects how Miami has changed as wealth has poured in from other major cities, especially New York and Los Angeles. Instead of trying to lure workers back with snacks and generic gyms, he is betting that premium tenants will pay for a fully packaged experience.
Miami’s rise as a magnet for wealth set the stage for Class X
Miami’s transformation from a party destination into a luxury center has accelerated in recent years. In 2025, a home in the city sold for more than $100 million for the first time. Jeff Bezos has accumulated more than $230 million in property on Indian Creek Island, the guarded enclave often called the “Billionaire Bunker,” and Citadel CEO Ken Griffin moved his company’s headquarters there.
The trend has broadened beyond a few headlines. Fortune cites data showing that 19 of Florida’s 20 richest billionaires now officially live in Miami-Dade County. The city’s millionaire population has grown 75% over the past decade. Rivani and other developers see that as proof that high-end office space can succeed where older markets may be weakening.
A former office building was gutted into a hospitality-driven workplace
Rivani bought the 163,000-square-foot building, previously called The Lincoln, for $62.5 million in 2024. He then brought in The Rockwell Group to strip out and redesign the property. The goal was not simply to freshen up an old office tower, but to recast it as an experience-driven workplace with the polish of a luxury resort.
The building’s amenity deck is the centerpiece of the project. Rivani said the design was meant to make the building feel distinct from the standard office market, which he described as uninspiring. His pitch is that tenants no longer want the minimum; they want a place that can support work, health, socializing and convenience without leaving the property.
Wellness amenities, a speakeasy and concierge service define the pitch
Class X includes a Monarch Athletic Club performance center with a cold plunge and sauna, marking the brand’s first location outside California. The building also offers a stem cell clinic and a longevity doctor who administers peptides. A members-only speakeasy is private for tenants during the day and open to the public after hours.
Other features are built to make the building feel fully serviced. The property includes an omakase restaurant, concierge, hospitality director and valet. Rivani said the valet was designed to deliver a dramatic first impression, with waterfall and lighting elements meant to create a “shock-and-awe” arrival. He said the wellness focus came from his own experience dealing with autoimmune issues.
Playboy, Morgan Stanley and others signed on before the building opened
The concept has already attracted a roster of tenants. Playboy is moving its global headquarters from Los Angeles to a 20,000-square-foot penthouse at the building on a 10-year lease. Daymond John, the “Shark Tank” investor, has also signed on, along with Morgan Stanley, Wix, Raymond James, Comcast and Coldwell.
Rivani said the property was about 90% pre-leased before opening. He said asking rents are approaching $175 per square foot, a level he called “pretty much unheard of.” The early leasing momentum suggests there is real demand for an office product that blends prestige, privacy and amenity-rich space in a market already favored by wealthy transplants.
Rivani wants Class X to grow into a national private-club network
The Miami Beach project is only the first step. Rivani already has a second phase planned above the parking garage, with a restaurant, more office space and rooftop padel courts. He says he wants to expand the Class X idea nationally and let members use amenities in multiple cities, similar to a business-focused version of Soho House.
For now, he is financing the rollout himself. Rivani said he has not raised outside capital for the project and plans to pursue a fundraise in 2027 once the concept has been proven. His larger bet is that wealthy companies and executives will keep moving toward markets like Miami and will want workspaces that reflect the same level of luxury as their homes.
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