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Shahab Karmely

Shahab Karmely

Principal

KAR Properties

Shahab Karmely

Principal

KAR Properties

Led by Principal Shahab S. Karmely, New York based KAR Properties is a real estate investment and development firm.

With over 28 years of international real estate experience, Shahab S. Karmely has honed an impressive pedigree in transactional, managerial, and developmental disciplines. These, combined with an extensive background in fine arts and design, are the foundational elements of his development expertise and overall vision.

As the founder of KAR Properties LLC, and through KAR and/or its affiliates, Mr. Karmely has acquired, repositioned, and monetized over 3 million square feet of office, luxury mixed-use, and industrial space in the US, Southeast Asia, and Europe. With offices in New York and Miami, KAR currently oversees the management of a core portfolio of assets and a development pipeline in excess of 5 million square feet.

KAR has made a significant entry into the Miami market with acquisitions in excess of $200 million in established and emerging neighborhoods. The firm is currently developing 2000 Ocean in Hallandale Beach, a 38-story, a private residential enclave located in Hallandale Beach, Florida. In Downtown Miami, KAR Properties is also developing One River Point, a two-tower, 60-story development that will rise 800 feet above the Miami River.

Mr. Karmely’s background as an owner/manager and developer gives him a unique perspective and invaluable insights in analyzing and implementing the appropriate strategies for a variety of asset classes. He champions innovative and inventive approaches in response to changing market conditions, trends, and new opportunities as is required in today’s dynamic real estate markets.

Summary

  1. How is KAR Properties managing their current projects that are under construction and how are you keeping sites clean?

  2. Are you keeping onsite amenities functioning?

  3. Have you continued to have interest in condo units and have you begun utilizing any new tech platforms to perform virtual tours?

  4. How much of a hit do you expect vacancy rates take in the next lease up cycle and will you look to lower rents to keep units occupied?

  5. Have you had to put any potential active acquisitions on hold or are you still investing in market?

Agenda

Time Activity
5:00 PM
5:30 PM
COVID-19's Impact On South Florida's Condo Market
5:30 PM
5:45 PM
Q&A With The Audience!