RIVANI Sells Amara at Paraiso Waterfront Restaurant in Edgewater for $19.8M

RIVANI, led by real estate investor Robert Rivani, has completed a record-setting sale of the Amara at Paraiso restaurant space in Edgewater Miami for $19.8 million. The transaction highlights both the strength of Miami’s waterfront real estate market and investor appetite for rare, income-producing restaurant properties.

Property Details

• Location: 3101 NE 7th Avenue, Edgewater, Miami
• Type: Two-story waterfront restaurant condominium across from Paraiso Bay and Gran Paraiso
• Size: 12,316 square feet with indoor seating for ~150 and outdoor waterfront deck for ~70
• Tenant: Amara at Paraiso, operated by James Beard Award-winning chef Michael Schwartz of The Genuine Hospitality Group

The space features floor-to-ceiling windows and direct Biscayne Bay views, making it one of the most iconic dining destinations in Miami.

Acquisition & Profit

RIVANI originally acquired the property in 2021 from The Related Group for $12.1 million. In just four years, the asset appreciated nearly 63%, culminating in the recent $19.8 million sale.

Buyer Information

The buyer is a 1031 exchange investor from Chicago, marking their first South Florida acquisition. While the individual or entity’s name has not been disclosed, brokers noted that the deal attracted global interest, including prospective buyers from California and the Middle East.

Why This Transaction Matters

This landmark transaction underscores:

1. RIVANI’s Strategic Vision – The firm continues to reposition and expand into hospitality, office, and lifestyle assets across South Florida.
2. Miami’s Global Appeal – Edgewater waterfront properties are attracting buyers from across the U.S. and abroad.
3. Rarity of Product – Restaurant condos with premier tenants and direct water frontage remain some of the most coveted—and least available—assets in Miami.

About Amara at Paraiso

Opened in 2018, Amara at Paraiso blends Latin flavors with modern waterfront dining. Chef Michael Schwartz has cemented it as one of Miami’s signature restaurants, drawing locals and visitors alike to Edgewater’s bayfront.