Soaring costs and slowing demand complicate South Florida condo projects
South Florida
Feb 3, 2023

Soaring costs and slowing demand complicate South Florida condo projects

As buyers grow impatient, developers get creative to move projects along
La Baia in Bay Harbor Islands (Evolution Virtual)
South Florida
Feb 2, 2023

Soaring costs and slowing demand stymie South Florida condo projects

As buyers grow impatient, developers get creative to move projects along
Rendering of One River Point with KAR Properties' Shahab Karmely and Fortune International Group's Edgardo Defortuna (One River Point, KAR Properties, Fortune International Group)
South Florida
Jan 5, 2023

Fortune, KAR score financing for One River Point condo tower

Bank OZK is providing the line of credit
Shahab Karmely and the Gardiner Estate at 127 Main Street (Getty, Out East)
Tri-State
Nov 13, 2022

Inside Shahab Karmely’s historic East Hampton mansion

Developer went all-in on renovation of 5-acre property
KAR's Shahab Karmely and Fortune International's Edgardo Defortuna with rendering of 24 Southwest Fourth Street (KAR Properties, Fortune International Group)
South Florida
Nov 4, 2022

Karmely, Defortuna revive plans for stalled One River Point condo tower

JV paid $59M for planned site of One River Point
Third Point’s Dan Loeb and Livwrk's Asher Abehsera 2050 North Miami Avenue (Third Point, Livwrk, Google Maps, Getty)
South Florida
Nov 3, 2022

Billionaire Dan Loeb selling Wynwood site to Brooklyn developer

1-acre site could be developed into about 250 residential units
Suffolk sues for $16M, alleging unpaid work at Shahab Karmely’s Hallandale Beach condo project
South Florida
Jul 26, 2022

Suffolk sues for $16M, alleging unpaid work at Shahab Karmely’s Hallandale Beach condo project

64-unit 2000 Ocean was completed in December
Shahab Karmely nabs $128M condo inventory loan for new Hallandale project
South Florida
Jan 5, 2022

Shahab Karmely nabs $128M condo inventory loan for new Hallandale project

Developer declined to disclose the number of units sold for 2000 Ocean
Shahab Karmely, Edgardo Defortuna and Kieran Bowers with Reach and Rise (Getty)
South Florida
May 21, 2021

Shahab Karmely, Edgardo Defortuna team up on bulk condo buy at Brickell City Centre

Fortune Development Sales will relist the 81 units for sale
Only 20% of Related Group’s commercial tenants paid rent in April
South Florida
Apr 13, 2020

Only 20% of Related Group’s commercial tenants paid rent in April

Shahab Karmely called an extended shutdown a mistake
Shahab Karmely lands $103M loan for 2000 Ocean in Hallandale Beach
South Florida
Dec 21, 2018

Shahab Karmely lands $103M loan for 2000 Ocean in Hallandale Beach

Apollo REIT is the lender for the 64-unit beachfront project
Fortune takes over condo sales of KAR Properties’ 2000 Ocean in Hallandale
South Florida
Aug 27, 2018

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

Douglas Elliman was handling sales of the 64-unit luxury condominium
Shahab Karmely launches sales of luxury condo project in Hallandale
South Florida
Oct 19, 2017

Shahab Karmely launches sales of luxury condo project in Hallandale

Units start at $2.8M
Where did Miami’s real estate players ride out Hurricane Irma?
South Florida
Sep 14, 2017

Where did Miami’s real estate players ride out Hurricane Irma?

They're trickling back from places like NYC, LA, Montreal and Buenos Aires - and some stayed put in South Florida
Miami board vote paves way for KAR’s Miami River restaurant and yacht club complex
South Florida
May 25, 2017

Miami board vote paves way for KAR’s Miami River restaurant and yacht club complex

In addition to the restaurant, the developer is proposing a fish market and yacht charters
WATCH: Shahab Karmely talks the Miami River, market challenges, and One River Point
South Florida
May 8, 2017

WATCH: Shahab Karmely talks the Miami River, market challenges, and One River Point

WATCH: Panelists discuss SoFla development opportunities, condo financing at Broward showcase
South Florida
Apr 27, 2017

WATCH: Panelists discuss SoFla development opportunities, condo financing at Broward showcase