The Real Deal Miami

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

Douglas Elliman was handling sales of the 64-unit luxury condominium
By Katherine Kallergis | August 27, 2018 06:00PM

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.