arts
Rivani sells Wynwood Jungle for $26M to fund next Miami Beach buy
By Francisco Alvarado at The Real Deal
· June 16, 2026
· 1 min read
Robert Rivani sold the Wynwood Jungle for $26 million, with plans to use the profits to fund the pending acquisition of a Miami Beach office property. The nearly 39,000-square-foot retail plaza at 51 Northwest 23th Street sold for nearly double its previous sale price five years ago, Patrick Khoury,
Key takeaway The nearly 39,000-square-foot retail plaza at 51 Northwest 23th Street sold for nearly double its previous sale price five years ago, Patrick Khoury, chief investment officer for Rivani’s Miami-based namesake firm, told The Real Deal.
Why this matters in The Miami
The sale of Wynwood Jungle for $26 million marks a significant shift in the neighborhood's commercial landscape. As Wynwood continues to evolve, this transaction suggests that investors are still eager to capitalize on the area's vibrant arts scene and growing popularity. The fact that the property sold for nearly double its previous sale price five years ago indicates a substantial increase in value, reflecting the neighborhood's ongoing transformation. With Rivani planning to use the profits to fund a pending acquisition in Miami Beach, it will be interesting to see how this investment shapes the commercial landscape of the beachside community. The involvement of a Dallas-based investment group as the buyer also highlights the growing appeal of Miami's neighborhoods to out-of-state investors, further solidifying the city's position as a major hub for commercial activity. This deal may set the stage for more high-profile transactions in Wynwood and beyond.
About this story
Original reporting by The Real Deal . The Miami surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
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Category: arts ·
Published: June 16, 2026 ·
Source: The Real Deal ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? Robert Rivani sold the Wynwood Jungle for $26 million, with plans to use the profits to fund the pending acquisition of a Miami Beach office property. The nearly 39,000-square-foot retail plaza at 51 Northwest 23th Street sold for nearly double its previous sale price five years ago, Patrick Khoury,
When was this published? This article was first published on June 16, 2026 by The Real Deal and curated for The Miami readers.
Who reported this story? This story was reported by Francisco Alvarado at The Real Deal. To learn more about how The Miami selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more arts coverage from The Miami, or browse our daily briefing and topic hubs .
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