Fortune takes over condo sales of KAR Properties’ 2000 Ocean in Hallandale

Douglas Elliman was handling sales of the 64-unit luxury condominium

Miami /
Aug.August 27, 2018 06:00 PM

Rendering of 2000 Ocean, Edgardo Defortuna and Shahab Karmely

Fortune International Group took over the exclusive sales and marketing of 2000 Ocean, a luxury oceanfront condo planned for Hallandale Beach.

Fortune, led by Edgardo Defortuna, took over sales earlier this month from Douglas Elliman, developer Shahab Karmely confirmed. Karmely’s KAR Properties launched the 39-story, 64-unit project at 2000 South Ocean Drive in October 2017. It’s being designed by Enrique Norten of Ten Arquitectos with packages from Italian design firm MinottiCucine and Minotti SpA.

Defortuna said that the biggest change in strategy is that KAR Properties is moving forward with construction and going vertical without a presales requirement. “[Projects] that are under construction are the ones that are moving these days,” he said.

The developer adjusted the pricing to make it more balanced, Defortuna said. Typical units are now priced from about $2.6 million to $4.4 million, with sky villas and penthouses asking between $8.6 million to $25 million. Prices previously ranged from about $2.8 million to $5.5 million for half-floor condos and from $10 million and up for full-floor units.

Karmely said Elliman is “a world-class firm” but “sometimes with these projects you want to make a shift.”

He added, “It’s a nice fit to have the same company that sold Jade Signature move onto 2000 Ocean.”

Defortuna completed Jade Signature, a 57-story, 192-unit tower in Sunny Isles Beach, earlier this year. It was designed by Herzog & de Meuron with interiors by Pierre-Yves Rochon.

Elliman is still handling sales of One River Point, Karmely’s 60-story luxury condominium project designed by architect Rafael Viñoly on the Miami River.

Karmely declined to say how many units have sold so far at 2000 Ocean. Suffolk Construction will pour the foundation in September, he said.

Jay Phillip Parker, CEO of Elliman Florida, said in a statement that the brokerage is “enormously proud to have engaged in the comprehensive pre-development work and initial sales launch” for the Hallandale project.

Amenities at 2000 Ocean will include two swimming pools, a spa and Hammam room, a yoga room and an oceanfront library.

Hallandale has attracted developers like the Related Group, which completed the Beachwalk hotel condo at 2602 East Hallandale Beach Boulevard, and the Chateau Group, which has proposed Hallandale Square, a large mixed-use development.


Related Articles

arrow_forward_ios
From left: Edgardo Defortuna, Stephen Ross and Gil Dezer (The Related Companies, Fortune International Group, Dezer Development, iStock)
Brokers, developers rally to capture Formula 1 buyers during first Miami Grand Prix
Brokers, developers rally to capture Formula 1 buyers during first Miami Grand Prix
Palm Beach agent Margit Brandt (Sonya Revell)
Top Palm Beach agent joins Premier Estate Properties after stint at Compass
Top Palm Beach agent joins Premier Estate Properties after stint at Compass
Denver Bright, Neil Solomon and William Talbert III
Movers & Shakers: Denver Bright returns to Elliman, PropertyForce promotes CEO & more
Movers & Shakers: Denver Bright returns to Elliman, PropertyForce promotes CEO & more
Palm Beach (iStock)
Lack of inventory limits South Florida resi sales as prices rise: Elliman
Lack of inventory limits South Florida resi sales as prices rise: Elliman
Santiago Arana and Mauricio Umansky (iStock)
The Agency expands again in South Florida with Surfside outpost
The Agency expands again in South Florida with Surfside outpost
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
These brokerages are winning South Florida’s talent wars
These brokerages are winning South Florida’s talent wars
These brokerages are winning South Florida’s talent wars
Marcus & Millichap's Ryan Nee and Harrison Rein (R & B Realty Group, Marcus & Millichap, iStock)
Marcus & Millichap moving Miami office to Gateway at Wynwood
Marcus & Millichap moving Miami office to Gateway at Wynwood
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...