// TAKE US TO THE RIVER

WITH NEARLY 30 YEARS OF IN­TER­NA­TIONAL REAL ES­TATE EX­PE­RI­ENCE, SHA­HAB ARMELY TURNS AWAY FROM THE BEACH FOR HIS LUX­U­RI­OUS NEW SOUTH FLORIDA VI­SION.

Ocean Drive - - September 2017 - BY ROBYN A. FRIED­MAN

With nearly 30 years of in­ter­na­tional real es­tate ex­pe­ri­ence, Sha­hab Karmely turns away from the beach for his lux­u­ri­ous new South Florida vi­sion.

As the founder of the New York­based KAR Prop­er­ties, a real es­tate in­vest­ment and de­vel­op­ment firm, Sha­hab Karmely has ac­quired, repo­si­tioned, and mon­e­tized more than 3 mil­lion square feet of of­fice, lux­ury mixed-use, and in­dus­trial space in the United States, Europe, and Asia. He’s cur­rently mak­ing his mark on Mi­ami with One River Point, a 418-unit lux­ury con­do­minium project on the Mi­ami River, de­signed by in­ter­na­tion­ally ac­claimed ar­chi­tect Rafael Viñoly. Why the river? Just wait and see.…

How is One River Point dif­fer­ent from other new condo build­ings in Mi­ami?

We are a fully fin­ished prod­uct—not dec­o­ra­tor-ready. We are fur­ni­tur­eready and branded with our kitchens, bath­rooms, and ap­pli­ances. You get traver­tine stone floors, onyx bath­rooms, B&B Italia kitchens and bath­rooms—all of this from the $800,000s.

How are sales?

The mar­ket is chal­leng­ing. Given where the mar­ket is, I’m sat­is­fied. We’ve al­ways taken a long view.

How will One River Point fur­ther the river’s evo­lu­tion?

We have the largest as­sem­blage on the river and were first to bring lux­ury

to it. We wanted to bring a New York-style tower with a world­class ar­chi­tect and de­sign team. That’s why we brought in Rafael Viñoly, [hote­lier] Adrian Zecha, [lux­ury de­signer] Rémi Tessier, and [the land­scape de­sign firm] Sasaki—all peo­ple who work on world-class projects in New York City, Lon­don, or Shang­hai. I’ve given a lot of peo­ple con­fi­dence that the river is where it’s hap­pen­ing.

How im­por­tant was it to have a renowned ar­chi­tect?

Rafael is one of the few ar­chi­tects to­day who has a strong prac­tice in the pri­vate arena but is also very re­spected for up­scale civic projects. Lit­er­ally 100 per­cent of the re­sponse I’ve had, whether it’s bro­kers, com­pet­ing de­vel­op­ers, or clients, has been “Wow.”

How is the def­i­ni­tion of lux­ury chang­ing in Mi­ami?

The epi­cen­ter of lux­ury liv­ing, whether it’s Chicago, Lon­don, Bangkok, is on the river. The think­ing in the past was that lux­ury could not be sus­tained away from the beach; my premise is that Mi­ami has ar­rived as a world city, and all of the ex­cite­ment of Mi­ami— from the De­sign Dis­trict to Wyn­wood to Brick­ell City Centre—is with city places, not beach places. The river is Mi­ami’s fu­ture. You’re a pas­sion­ate gar­dener. Why? I bought a six-acre his­toric prop­erty in East Hamp­ton with ex­ten­sive plant­ings, and I be­came very in­volved with the plan­ning of the gar­dens and their main­te­nance. I de­vel­oped a real love of un­der­stand­ing how gar­dens work with each other and the dif­fer­ence be­tween plan­ning for color or shade or scent. When you get older, you be­come more ap­pre­cia­tive of the cy­cles of life and re­al­ize that a lot of things are worth wait­ing for. With na­ture, you’ve got to let it take its time.

90 SW Third St., Mi­ami, 305809-7566; oner­iver­point.com

De­vel­oper Sha­hab Karmely at One River Point’s im­pres­sive sales gallery—a two-story, 5,000-square-foot mu­seum-like space.

One of the project’s gor­geous Sky Lofts, fea­tur­ing 10- to 12-foot ceil­ings, a glassen­closed ter­race, and breath­tak­ing views. ƚƛƨưƞ: Sha­hab Karmely

A ren­der­ing of One River Point, with its “float­ing sky bridge” con­nect­ing the twin tow­ers.

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