Miami Beach voters rejected by a landslide a deal that would have allowed an ultra-luxury South Beach office building to extend its lease with the city into the next century.
Nearly 63% of Miami Beach voters cast ballots Tuesday against the referendum, which would have given developer RK Rivani LLC the option to extend its lease for the city-owned land beneath the office building up to 40 additional years, or until 2132. It would have also cleared the way for $50 million worth of upgrades, including more office space, a restaurant and rooftop padel courts.
The Rivani office building, where Playboy has its headquarters, is located at 1691 Michigan Ave., just off Lincoln Road. The current lease term, which will remain unchanged, runs through 2052, with the possibility of two 20-year extensions through 2092…