Robert Rivani pays $23M for waterfront Palm Island mansion

Commercial real estate investor Robert Rivani paid $23 million for a waterfront Miami Beach mansion, The Real Deal has learned.  Rivani, who leads his Miami-based firm Rivani, formerly called Black Lion, plans to spend millions of dollars to renovate the 9,200-square-foot mansion at 16 Palm Avenue, according to sources. Rivani lives in Miami’s Morningside and purchased the home as an investment.  The seller is Tom Sullivan, the founder and CEO of Lawrenceburg, Tennessee-based Lumber Liquidators, records show. Sullivan inked the contract to sell the 0.8-acre property in October.  The six-bedroom, six-and-a-half-bathroom house was listed with Venetian International’s Luis Bosch, asking […]This article originally appeared on The Real Deal. Click here to read the full story.