KAR Properties

Developers Secure $34 Million From Bank OZK To Begin Construction On 66-Story One River Point In Downtown Miami

One River Point Partners, LLC, a joint venture partnership between New York’s KAR Properties and Miami’s Fortune International Group, has secured a $34 million loan to initiate the first phase of construction on One River Point, a twin-towered 66-story residential development planned for 24 Southwest 4th Street in Downtown Miami. Designed by the star architect Rafael Viñoly of Rafael Viñoly Architects, the pair of connected towers will contain a combined 368 condominium units, and sit immediately north of the Miami River. The property will enjoy a desirable location in the city’s epicenter being just minutes away from luxury retail shopping and entertainment areas as well as the major transportation hubs, the Port of Miami, Miami International Airport, and cultural landmarks such as the Adrienne Arsht Center and Perez Art Museum.

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A Wave Of New Developments Transitions Hallandale Beach From Quiet Coastal Town To Blossoming City

South Florida’s quiet coastal town of Hallandale Beach is quickly becoming one of the most luxurious places to live, work and play, thanks to a wave of new high-end residences attracting affluent buyers in droves. As a result, the city is experiencing a wave of new investment in the area, with a whopping $1 billion worth of development underway, according to the Hallandale Beach Community Redevelopment Agency. These projects run the gamut from luxury residences to dining and entertainment attractions.

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KAR Properties And Fortune International Group To Co-Develop 66-Story One River Point Designed By Rafael Viñoly

New York developer Shahab Karmely of KAR Properties and Miami developer Edgardo Defortuna of Fortune International Group announced a new partnership to co-develop One River Point, two connected riverfront-facing 66-story residential towers with a combined 300 units planned for 24 Southwest 4th Street in Downtown Miami. Under the One River Point Partners, LLC, the pair purchased the site from the original entity of One River Point, Miami River Project LLC, paying $58.85 million. The parcel enjoys an enviable location in the city’s epicenter, just steps from the Brickell financial district and luxury retail shopping and entertainment center, Brickell City Centre, as well as the major transportation hubs, and within minutes from Miami Beach, the Port of Miami, major international airports, and cultural landmarks such as the Adrienne Arsht Center, American Airlines Arena and Perez Art Museum.

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MRP6. Designed by Arquitectonica.

KAR Properties’ 36-Story ‘MRP6’ Office Tower Submitted To Miami’s Urban Development Review Board

Plans have been submitted to Miami’s Urban Development Review Board for MRP6, a 36-story office tower to be located at the intersection of South Miami Avenue and Southwest 3rd Street in Downtown Miami. Designed by world-renown architecture firm Arquitectonica for developer KAR Properties, the structure will rise approximately 500-feet and yield 959,409 square feet of space including 462,492 square feet of office space, 6,000 square feet of ground floor retail and 762 parking spaces. Iris Escarra of Greenberg Traurig LLP is listed as the representative for the developer in the application. 

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MRP6. Courtesy of KAR Properties.

KAR Properties Unveils Renderings For Two New Skyscrapers Planned For Downtown Miami

Renderings have been unveiled for two new skyscrapers from KAR Properties in Downtown Miami tentatively known as MRP5 and MRP6. The images recently appeared on the developer’s website, referred to as ‘State-of-the-art’ towers; one with multifamily residential units and retail, and the other an office building. The unveiling of the two new towers corresponds with the announcement of the relaunch of One River Point luxury condominium complex  back in May, mentioning two additional phases to be added to the project. MRP5 and MRP6 are expected to rise on land already owned by KAR Properties, possibly addressed as 82 Southwest 3rd Street and 50 Southwest 3rd Street.

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