Kar Properties

New Restaurant Coming To Miami River

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Purchased Site in Red Along the Miami River

Shahab Karmely of Kar Properties and Alex von Furstenberg have purchased property at 131 NW South River Drive along the Miami River, according to The Real Deal.

The property was purchased for $5.4 million with plans to turn it into restaurant with event and entertainment space. 

Karmely is also developing One River Point along the Miami River across from Brickell, which will be two 928 foot towers. 

The Miami River has been very active lately with the construction of a Sushi Samba, the proposed Edge on Brickell, the approved Riverside Wharf, Chetrit Group's Miami River complex and even the re-lighting of Rockne Kreb's "The Miami Line." 

The new restaurant on the site will open by the end of the year.

One River Point Approved By FAA

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One River Point has been approved by the FAA, according to The Next Miami. The two towers will rise 928 feet above ground. Plans were submitted to the FAA in December 2014. 

Developer KAR Properties bought the One River Point land for 27.5 million in 2013 and also paid 33.1 million for the two lots behind the Mint and Ivy condos.

Sales for One River Point will begin September 10th.

Kar Properties Propose Two 60 Story Towers On Miami River

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Rendering of Two Proposed Towers

Rendering of Two Proposed Towers

Two 60 story towers from Kar Properties have been proposed next to the Miami Avenue bridge, according to Miami Today.

The two towers would have a waterfall and rise directly in front of The Ivy, Mint and Wind condos. The plan is to have 406 residential units 30,000 square feet of commercial space. 

Last year, Kar Properties spent $27.5 million on the land and $33 million on the land behind the three current condos. In December 2014, a submission was made to the FAA for a 928 foot tower on the site, but no word on how tall the two proposed towers will rise.

KAR Properties Submit Plans For 928 Foot Tower To FAA

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According to The Next Miami, KAR Properties has submitted plans to the FAA for a 928 foot tower. 

In 2013, KAR Properties bought land in front of the Wind and Ivy for 27.5 million and earlier this year 33.1 million for land being those buildings.

Kar Properties Spends $33M for Miami River Site

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Planned Development Sites

Site Purchased Last Year for $27.5M

According to the SFBJ, New York developers Kar Properties has purchased the land behind The Wind and Ivy condos for $33.1 million. 

Last year, Kar Properties spent $27.5 million on a site where the planned Cima Towers were supposed to go.

On the newly purchased land, Kar Properties has plans to build 1,426 units along with retail and offices, which will include a 800 ft tower.

No word when ground breaking will start.