Shahab Karmely and Edgardo Defortuna To Co-Develop One River Point On The Miami River

Following their mutual success with 2000 Ocean, where Fortune International Group handled the sales and marketing, and Brickell City Center’s Reach & Rise residential sell out, New York developer, Shahab Karmely of KAR Properties and Miami Developer Edgardo Defortuna of Fortune International Group, have announced that they will co-develop One River Point in partnership with each-other.

Together with their new entity, One River Point Partners, LLC the pair purchased the site from the original entity of One River Point paying $58.85 million. The parcel enjoys an enviable location in the city’s epicenter, just steps from the Brickell financial district and luxury retail shopping and entertainment center, Brickell City Centre, as well as the major transportation hubs, and within minutes from Miami Beach, the Port of Miami, major international airports, and cultural landmarks such as the Adrienne Arsht Center, American Airlines Arena and Perez Art Museum.

The fully approved One River Point project, designed by the star architect, Rafael Viñoly, is currently being adapted to today’s market and lifestyles. The developers are putting together the final touches on the personality and lifestyle components of the property and plan to take it to the market in 2023.

Defortuna cited his past success with Karmely and the unique prospect of co-developing a waterfront site in one of Miami’s prime neighborhoods to be a rare opportunity and the driving force behind the decision.

“We remain extremely bullish on the market and on the future of the Miami River. South Florida is one of the top living destinations attracting people from all over the world and waterfront living is the apex of the Miami luxury lifestyle,” said Edgardo Defortuna, President and CEO of Fortune International Group.

“Following up on our achievements with Reach and Rise at Brickell City Centre project and our continued collaboration of sales and marketing on 2000 Ocean, we are happy to announce the next phase of our business relationship” said Karmely. “I’ve always maintained that the Miami River’s setting, location and views had the same potential as London’s River Thames, Paris’ Seine or Tokyo’s Sumida River where residents enjoy the best of waterfront cosmopolitan living. Edgardo and I are excited to realize the original vision and fine tune the details to take this project to the next level together,” he added.

One River Point, is internationally-acclaimed Rafael Viñoly’s first residential project in Miami. The Uruguayan architect and founding principal of Rafael Viñoly Architects has a diverse portfolio of award-winning projects spanning the globe, from museums and performing arts centers to hotel and residential complexes, throughout his 45 years of architectural practice, Rafael Viñoly is credited for his design originality in landmark projects and inspiring architecture. His achievements include New York’s 432 Park, The Cleveland Museum of Art, Tokyo International Forum and Battersea Power Station, which has effectively transformed riverfront living in the heart of London.

The Ultra-Luxury One River Point To Go Vertical in Early 2019 On The Miami River

One River Point's quest to bring ultra-luxury living to the Miami riverfront will kick into the next stages of construction as the tower is expected to go vertical in early 2019. The twin tower, 800' tall development by KAR Properties’ groundwork with excavation, piles, seawall and foundation are currently underway. One River Point designed by internationally acclaimed architect Rafael Viñoly and represents developer Shahab Karmely’s desire to introduce world-class architecture, international design, and luxe resort-like amenities to urban waterfront living in the heart of Miami. One River Point will feature approximately 380 bespoke residences, ceiling heights of 10' to 12', expansive open layouts with floor-to-ceiling sliding glass walls, honed stone flooring, full slab onyx accent walls, designated art walls with task lighting, state of the art technology, as well as biometric security with face recognition. Additionally, the project will include 12-foot deep glass enclosed outdoor living terraces with sweeping vistas of the Miami River, Biscayne Bay and the city skyline. Residences at One River Point will range from approximately 1,000 SF to 12,000 SF. The crown jewel will be two 14,000 SF “sky villas” at the top of each building priced at $30 million. Set within One River Point’s piece de résistance, a three-story, floating sky bridge will connect the two towers on the top floors where the 50,000 SF Sky Club will be located.

Kar Properties' One River Point Launches $3.5 Million Sales Gallery

Over 600 of Miami’s real estate industry leaders enjoyed a curated experience on the Miami River on Wednesday, March 15 in celebration of the debut of One River Point’s new $3.5 million sales gallery. New York developer Shahab Karmely and his brand Kar Properties's One River Point sales gallery premiere showcased One River Point’s commitment to bringing ultra-luxury living to the Miami riverfront. One River Point will be designed by internationally acclaimed architect Rafael Viñoly and its stunning sales gallery reflects Karmely’s desire to introduce world-class architecture, international design, and luxe resort-like amenities to urban waterfront living in the heart of Miami. The 5,000 square foot sales gallery features exquisite displays of the kitchen, library, and master-suite bathroom, complete with walk-in shower and free-floating tub, all thoughtfully laid out in an unparalleled, art gallery-like setting. Guests received a preview of the exceptional finishes such as honed stone flooring and onyx accent walls that have been selected for the designer finished residences. Designer quality craftsmanship and meticulous attention to the finest detail are evident throughout featuring finishes and appliances by B&B Italia, Gaggenau, Arclinea and Flos, as well as a full presentation of the material palettes, state of the art technology, and an integrative site plan within the riverfront park. 

One River Point will feature approximately 380 bespoke residences, ceiling heights of 10 to 12 feet, expansive open layouts with floor-to-ceiling sliding glass walls, honed stone flooring, full slab onyx accent walls, designated art walls with task lighting, state of the art technology, as well as biometric security with face recognition. Additionally, the project will include 12-foot deep glass enclosed outdoor living terraces with sweeping vistas of the Miami River, Biscayne Bay and the city skyline. Residences at One River Point will range from approximately 1,000 to 12,000 square feet. One River Point will also include sky lofts and sky villas as well as state of the art technology plus biometric security, including face recognition. Set within One River Point’s piece de résistance, a three-story, floating sky bridge will connect the two towers on the top floors where the 50,000 SF Sky Club will be located.

“The compelling success of the initial sales process is a true testament to One River Point’s role in redefining luxury living in Miami’s urban core. We have a lot of excited guests here and reason to celebrate,” said Shahab Karmely, CEO of Kar Properties. KAR has made a significant entry into the Miami market with acquisitions and investments in excess of $200 million in established and emerging neighborhoods.

Among the many unique features in One River Point’s distinct sales gallery is the advanced audio-visual interactive platform, allowing buyers to experience in dazzling 3-D reality the designs of the extraordinary residences. The idea is for the buyer to go through a fully curated, progressive journey of the One River Point story, incorporating elements drawn from museum and gallery exhibits. Utilizing oculus rift virtual reality systems, interactive models, and floor plans as well as physical displays of materials, palettes, bathrooms, kitchens, and furniture, all combined to fully immerse the buyer in an experience unlike any other. The sales gallery for One River Point is located at 90 SW 3rd Street, just steps from the Brickell financial district and Brickell City Centre.

Healthy Sales Reported at One River Point

Sales at the pre-construction mega-project One River Point have been healthy as the project is now 26% sold according to developer Shahab Karmely of Kar Properties. Recently the market has been hot with nearly $26 million since the beginning of July. The Next Miami is reporting that according to broker Micael Light, reservations and deposits for 16 units at an average of $1.6 million to bring the total closed to 100 of 386 units. Groundbreaking for the project is expected in mid-2017. 

One River point will include twin high-rise luxury resort style residential towers connected by a 3-story "skybridge" Sky Club. Amenities also include 2 restaurants, a cigar lounge, cocktail bar, wine cellar, 25 club suites for guests, an 85 foot waterfall and pool deck. Units start at $750,000 - $12 million.