Shahab Karmely

WATCH: Shahab Karmely on his $100M in SoFla purchases He is developing one of the Miami River’s most ambitious condo projects

Shahab Karmely is developing arguably one of the Miami River s most ambitious condo projects, a pair of 60-story luxury residential towers connected at the top by a ritzy Sky Club. But the New York developer didn t get here all on his own: he took his cues from Swire Properties.

Karmely stopped to catch up with The Real Deal Managing Web Editor Hiten Samtani at TRD s Miami Showcase and Forum, and explained how he ended up in Miami after spending years living abroad, and why he chose the ri新上海贵族宝贝论坛

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ver instead of the beach for his project.

It was 2013 when Karmely, who had read about Swire s flagship Brickell City Centre project starting construction, decided to check out the real estate scene in Miami. He brought his wife and children down for a weekend stay at the Mandarin Oriential on Brickell Key, but the family vacation ended once he saw the new developments sprouting up in the ci上海夜网论坛

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ty. Karmely said he sent his wife and kids home, and started ringing up local brokers to scope out development sites.

He s since bought more than $100 million worth of properties in South Florida and said he plans on launching a new multifamily project within the next six months.

Despite assembling land on the river three years ago, his October 2015 launch of One River Point makes it a relative latecomer in Miami s winding down development boom. Even so, the developer said his tea新爱上海同城对对碰论坛

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m won t pull any financing until it s time to break gr爱上海

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ound, citing the $30 million he has already sunk into predevelopment costs.

Karmely was one of more than a dozen expert panelists at TRD s biggest ever South Florida Showcase Fo上海千花社区

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rum last week at Wynwood s Soho Studios.

Tags: kar properties, shahab karmely, The Real Deal South Florida Showcase Forum
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